Cumberland Wallet Moves 10,200 ETH Worth $28.54M from Binance Following $30M USDC Deposit

COINOTAG disclosed on June 11 that an address, likely linked to Cumberland, executed a significant withdrawal of 10,200 ETH valued at around $28.54 million from Binance within the last 30 minutes, according to data tracked by TheDataNerd. Earlier, approximately 20 hours prior, this same wallet had deposited 30 million USDC into the exchange. These substantial on-chain movements highlight active liquidity management strategies by institutional players within the crypto ecosystem, reflecting ongoing market positioning and capital allocation trends. Monitoring such large-scale transfers is crucial for market participants aiming to gauge potential shifts in exchange reserves and overall crypto asset flows.