Bitcoin Whale Deposits 850 BTC into Paxos After Earlier 2,300 BTC Move Allegedly Linked to Craig Wright

According to blockchain analytics, a notable BTC whale executed a fresh movement, transferring 850 BTC—roughly $77.9 million—to Paxos, following a prior 2,300 BTC transfer about two weeks earlier. The two-stage activity underscores ongoing liquidity movements among large holders amid calmer Bitcoin price action. Analysts caution that on-chain signals must be contextualized with market data, as large transfers can reflect custody reshuffles, arbitrage, or risk-management strategies rather than directional bets.

The provenance of the coins has drawn scrutiny because the funds trace back to an address that public reports have associated with claims by Craig Wright—a point of contention in the industry. While ownership remains unverified, the incident highlights the importance of robust custody and provenance tracing for regulated platforms. As the crypto market digests the move, traders will watch for any follow-up between major custodians and wholesale liquidity venues.