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$277 Million Bitcoin (BTC) Transfer Stuns Major Crypto Exchange
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$277 Million Bitcoin (BTC) Transfer Stuns Major Crypto Exchange

by admin May 24, 2025


  • Massive BTC transfer sparks doubts
  • Bitcoin returns to $108K

On-chain data tracking platform Whale Alert has spotted massive Bitcoin transfers flowing into a major U.S.-based cryptocurrency exchange, Kraken, according to an X post on Friday.

Massive BTC transfer sparks doubts

The tracker revealed up to 2,529 BTC worth more than $277 million have been transferred into the exchange in less than 2 hours.

The large Bitcoin transfer, which suggests that Bitcoin whales might be making attempts to sell off their assets, happened in two separate transactions.

The first transfer saw 900 BTC worth $97,830,897 move from the world’s leading crypto exchange Binance to Kraken.

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Meanwhile, the second transfer, which happened consecutively, was spotted from an unknown wallet, involving 1,629 BTC worth $178,533,840 being moved to the same exchange.

The massive Bitcoin transfers come at a time when the crypto market is experiencing a massive bloodbath, suggesting that Bitcoin whales are relenting and dumping their Bitcoin holdings on exchanges to sell.

Although the reason behind the large Bitcoin transfer remains uncertain, it has sparked concerns among market watchers as the plummeting market has left investors in doubt, indicating increased selling activities.

Bitcoin returns to $108K

Despite achieving a new all-time high (ATH) of $111,970 on May 22, Bitcoin has begun trading negatively a day after as the market returns to an uncertain mode. Amid this market bloodbath, Bitcoin and other leading cryptocurrencies have recorded notable lows on Friday.

This negative trend has seen the world’s largest cryptocurrency decline by 2.31% over the last day, according to data from CoinMarketCap. As such, BTC is trading at $108,726 as of press time.

Source: CoinMarketCap 

Following this notable plunge in Bitcoin’s price, BTC has fallen by about 2.68% from the ATH it achieved the previous day.

On the contrary, Bitcoin has surged incredibly high with up to a 9-figure increase from its all-time low seen 15 years ago.

Alongside Bitcoin, leading altcoins have followed these bearish trends as they return to previous lows after achieving major breakouts.

While the market dip has been fueled by macroeconomic concerns, investors are curious if there is still a bigger bull run ahead.



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May 24, 2025 0 comments
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Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders
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Toobit: Unpacking A Full-Service Crypto Exchange For Modern Traders

by admin May 23, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Although Toobit is a relatively new entrant in crypto trading, it’s already making a great impression in the crypto trading industry. Launched in 2022 and backed by big investors such as Bybit and Huobi Ventures, the platform now has over 3 million active users, 200,000+ community members, and more than $15 billion in daily trading volume. And it’s not just hype—Toobit is trying not to be merely a crypto exchange. So, what exactly sets Toobit apart from other crypto exchanges?

Split or Merge? Flexible Trading And Real Utility

One of the standout features of Toobit is its position management tools. While most platforms offer a one-dimensional approach, Toobit gives users a choice between split mode or merged mode. In the split mode, every trade is handled independently, making it ideal for multi-strategies and multi-directional trading. Merged mode, on the other hand, streamlines the process by consolidating trades in the same direction into a single position — perfect for traders who prefer a cleaner interface and minimal micromanagement.

For high-volume or institutional traders, Toobit offers API integrations for algorithmic trading and portfolio management, as well as high-liquidity trading environments. Users can access over 450 tools, including cryptocurrencies, derivatives, trading bots, and demo trading. Institutional traders can also apply for customized withdrawal limits and other tailored services.

Being able to run both long and short positions simultaneously is also an advantage on Toobit, especially for more advanced trading strategies. This level of flexibility is uncommon among retail-facing exchanges and will undoubtedly appeal to traders who value greater control and customization.

Copy trading is another standout feature, offering over 40 zero-slippage trading pairs. Combined with automated tools such as Futures Grid and DCA (Martingale), Toobit provides a well-equipped toolkit for users looking to streamline and optimize their trading strategies.

Simple But Practical

The user experience is quick and friction-free. New users can sign up and deposit in under two minutes. Both the desktop and mobile interfaces are well-designed and functional, offering features such as alerts, trade volume notifications, and customizable portfolio views.

For those who need guidance, Toobit provides a range of educational resources, including tutorials, FAQs, and a help center. Customer support is available 24/7 through multiple channels, including Telegram and WhatsApp. It may not be groundbreaking, but it delivers the level of convenience users now expect in 2025.

Fees That Make Sense

Fees are often the dealbreaker for crypto traders, especially high-frequency ones. Toobit keeps it simple. No charges to open or maintain an account, no inactivity or portfolio transfer fees. Buying crypto incurs a 0.1% fee, and selling is slightly cheaper at 0.075%. Deposit fees? Zero. Withdrawal costs vary by blockchain network.

Crypto swaps incur no fees, which is a rare and valuable advantage. While fiat on-ramp services do carry fees, these are charged by third-party providers such as Simplex—not by Toobit itself.

Security And Trust

Toobit takes security seriously. There has been no record of a data breach. No evidence of customer information being sold or misused, and it employs standard features such as 2FA (via SMS, email, or third-party apps), security PINs, and device recognition. The platform stores cold wallets on air-gapped devices and protects hot wallets with AES-256 encryption and AI-powered surveillance tools. Standard stuff, but well-executed.

To minimize risks, the platform’s Bee-Safe technology incorporates multi-layered security, including hardware security modules and multi-party computation wallets. Toobit also partners with top blockchain security firms such as Beosin and Elliptic for regular audits.

Community And Global Reach

Toobit is creating a global community. With over 200,000 community members and 3,000 active influencers across major regions, such as in the US, UK, East Asia, and CIS countries, the exchange is rapidly expanding. The platform’s interface is available in 11 languages, making it accessible and user-friendly for international users.

The referral and affiliate programs provide an added layer of engagement, rewarding users with commissions and bonuses for bringing new traders to the platform.

Beyond Trading: Toobit’s Ecosystem In The Making

Toobit goes beyond traditional features by offering a Telegram Mini App that allows users to send and receive crypto gifts. Gifts can be sent as “Standard” (equal split) or “Lucky” (random distribution), and claimed funds are deposited directly into users’ Spot accounts.

Its partnership with NovaMeme also shows Toobit’s commitment to bridge the gap between centralized and decentralized finance. This integration offers early access to IDOs, cross-chain token swaps, and DEX services across ecosystems such as Solana, Ethereum, and Binance Smart Chain.

Final Take

Toobit doesn’t reinvent crypto trading but enhances many core features while offering greater flexibility than most platforms. With split and merged position options, zero-slippage copy trading, robust security, and low fees, it delivers a well-rounded trading experience.

There’s no NFT support, and some features might be underutilized by casual traders. But overall, Toobit is definitely worth checking out—especially for traders seeking a customizable, low-fee, high-performance trading environment.

 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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May 23, 2025 0 comments
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$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours
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$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours

by admin May 22, 2025


On May 22, leading U.S.-based crypto exchange Coinbase received large transfers involving a total of 6,016 BTC from multiple unknown whales, according to recent data from on-chain tracking platform Whale Alert.

According to the data source, the massive Bitcoin transfers, worth more than $670 million, were executed consecutively in 13 separate, identical transactions.

The 13 transactions saw transfers made in identical amounts, with different unknown wallets sending 463 BTC to Coinbase 11 times. The remaining two transfers involved 462 BTC and 461 BTC, bringing the total Bitcoin inflow to 6,016 BTC in just a few hours.

Although the tracker could not identify the sender’s address, it revealed that the transactions were made from separate unknown accounts.

Whales dump on Bitcoin Pizza Day?

With the large BTC transfers coming during a major Bitcoin bull run that saw the leading cryptocurrency set new records and hit a new all-time high, the move has sparked discussions among the crypto community.

The timing has caught the attention of market participants as it coincides with the legendary Bitcoin Pizza Day, causing enthusiasts to speculate about the motive behind the transfer.

While the transfers were consistent in size and happened in rapid sequence, there are suggestions that it might be a coordinated activity from a single institution attempting to dump its Bitcoin stash.

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Oftentimes, large transfers to a highly liquid platform like Coinbase have been associated with major players preparing to sell off their assets to take profits after amassing gains from Bitcoin’s upsurge.

While movements like this often negatively influence Bitcoin’s price, the cryptocurrency has remained bullish, trading in the green zone since yesterday. Although the reason behind the massive Bitcoin transfers remains uncertain, it has not directly impacted the asset’s price.

Over the last day, Bitcoin has surged by 4.56%, according to data provided by CoinMarketCap. While it achieved a new high of $111,915 today, the coin is trading at $111,538 as of press time.

Source: CoinMarketCap 

Although market participants expect Bitcoin’s price to remain bullish in the long run, recurring dump activities from whales could slow down its potential to continue rising.



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May 22, 2025 0 comments
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Sui Token Starts to Recover After $223 Million Exploit on Its Biggest Decentralized Exchange

by admin May 22, 2025



In brief

  • SUI retraced a small portion of its losses, a few hours after rnews broke that more than $200 million had be stolen from decentralized exchange Cetus.
  • SUI’s price dipped to nearly $3.80 earlier Thursday.
  • Several other tokens linked to the Sui ecosystem were trading down on Thursday.

Sui’s native token started to recover after its price tumbled earlier on Thursday due to a more than $200 million exploit of the layer-1 blockchain’s largest decentralized exchange, Cetus. 

SUI was recently trading at $3.89, CoinGecko data shows. The token, which fell from $4.18 to $3.82 after news of the Cetus exploit erupted on Crypto Twitter, was down 3.7% over the past 24 hours. 

Malicious actors have siphoned $223 million worth of digital assets from Cetus’ liquidity pools, Sui said Thursday in a social media post. The wallet connected to the attack was recently holding about $37 million in cryptocurrencies, SuiVision records show.  

“The Cetus team is exploring paths to recover those funds and return them to the community, Sui said in the statement, adding Cetus has paused smart contracts to prevent further theft. “An incident report from Cetus is forthcoming.”



The exploit comes as the decentralized finance sector has struggled to weather an increasing number of multi-million-dollar cyber attacks over the past few years. A Chainanalysis report shows that stolen funds in the DeFi sector totaled $2.2 billion in 2024, a 21% increase from the year prior. 

More broadly, centralized trading platforms for digital assets have also suffered due to critical cyberattacks on their infrastructures. In February, crypto exchange ByBit sustained a $1.4 billion hack, marking the largest crypto heist ever by funds lost. 

Although Sui’s flagship token has largely recovered since the Cetus attack, other digital assets linked to its ecosystem are still struggling to retrace their losses. 

Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) were recently trading down 15%, 6%, and 91% over the past 24 hours, according to CoinMarketCap data.

Edited by James Rubin

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May 22, 2025 0 comments
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Panama
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Is Panama City Next? Mayor Teases Bitcoin Reserves After Diplomatic Exchange

by admin May 20, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Panama City’s mayor stirred up talk this week when he hinted at building a city‑level Bitcoin fund. It all started with a single line on social media.

Mayer Mizrachi wrote “Bitcoin Reserve” on X on May 16. He’d just met with Max Keiser and Stacy Herbert, two of the big names behind El Salvador’s Bitcoin moves.

Meeting Sparks Curious Talk

According to local sources, Mizrachi sat down with Keiser and Herbert to go over the nuts and bolts of Bitcoin policy. The mayor was tight‑lipped about details.

But the timing was notable. He shared that post just before heading to the Bitcoin 2025 conference in Las Vegas. It seemed like a heads‑up that something more could be coming.

Bitcoin Reserve 🚀

— Mayer Mizrachi (@Mayer) May 16, 2025

Legal Hurdles Ahead

Based on reports, creating a formal Bitcoin reserve would need a vote in Panama’s National Assembly. Lawmakers would have to write and approve a bill first. That process can drag on.

Committees must study the idea. There’d be debates, amendments and budget checks. Only then could the city hold any stash of Bitcoin on its books.

Panama City to introduce El Salvador’s “What is Money” financial literacy schoolbooks to their new digital libraries.

A regional Central American bitcoin block is emerging!

🇸🇻🤝🇵🇦 pic.twitter.com/7Ra2RvDdsG

— Stacy Herbert 🇸🇻🚀 (@stacyherbert) May 15, 2025

Energy Plans Discussed

Energy was also on the table. Keiser pointed out Panama’s hydroelectric potential and El Salvador’s geothermal plants. He suggested that green energy could power Bitcoin mining rigs.

It’s a neat idea: use cheap, clean power to run the computers that keep the Bitcoin network ticking. But permits and grid upgrades would be needed. Companies and regulators would have to sign off.

BTC is now trading at $103,583. Chart: TradingView

Crypto Payments On The Horizon

Mizrachi has already said Panama City will accept Bitcoin, Ether, Tether and USDC once the payments system is ready. That means building the crypto‑to‑fiat rails. Banks or fintech partners must handle the exchange.

And secure wallets would be needed to store any coins the city takes in. No launch date’s been set. But the plan is on the agenda.

Source: Strategy

Companies Bulk Up Holdings

It’s not just governments eyeing Bitcoin. Public firms are piling in, too. Michael Saylor’s Strategy Corp. just said it would raise $84 billion to buy more Bitcoin. That includes selling another $21 billion in stock.

They’ve also lifted their debt limit from $21 billion to $42 billion, with $14.6 billion still open. On the other side of the globe, Metaplanet added 1,240 BTC—about 18.50 billion yen, or roughly $127 million. That brings its total to 6,797 BTC, now worth just over $706 million.

Based on reports, publicly listed firms increased their Bitcoin stash by 15% in Q1. It shows that many see Bitcoin as a core holding—not just a side bet.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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May 20, 2025 0 comments
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