Two Prime Moves $274M in Bitcoin to Ceffu Custody

Edgen Crypto

·Mar 11 2026, 18:22

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Key Takeaways

A large entity known as Two Prime has moved a significant Bitcoin position to an institutional custody platform, signaling potential for a major market event. The transfer's size and destination suggest preparation for either a large sale or a sophisticated derivatives play.

Massive Transfer: An entity identified as Two Prime deposited 3,946 BTC, valued at approximately $274 million, into the institutional custody platform Ceffu over the past week.
Complex Flow: The deposit was accompanied by a simultaneous withdrawal of $173 million, indicating a complex asset management strategy rather than a straightforward deposit.
Market Uncertainty: The move could precede a large over-the-counter sale, which would exert downward pressure on Bitcoin's price, or the assets could be used as collateral for lending or derivatives, potentially increasing volatility.

Two Prime Deposits 3,946 BTC Worth $274M to Ceffu

Over the past week, the entity known as Two Prime executed a significant transfer, depositing 3,946 Bitcoin into the institutional custody platform Ceffu. The value of the transfer is estimated at approximately $274 million. This large-scale movement was accompanied by a withdrawal of $173 million from the platform by the same entity, indicating a complex series of transactions rather than a simple one-way flow.

Transfer Signals Potential Sale or Collateral Play

A deposit to Ceffu, a platform known for providing services to institutional clients, introduces two primary scenarios for the market. A transfer of this magnitude can often precede a large, over-the-counter (OTC) sale. Should Two Prime decide to liquidate the position, it could introduce significant selling pressure on Bitcoin's price, even if handled off the open market to minimize immediate impact.

Alternatively, the BTC may not be for sale. Sophisticated market participants frequently use institutional custodians like Ceffu to post digital assets as collateral for loans or to back derivatives trading. This strategy would not create immediate selling pressure but signals preparation for advanced financial maneuvers that could influence market volatility. The transaction underscores growing activity from large, institutional players shaping market liquidity.