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Binance Moved $1 Billion Worth of Bitcoins- Find Out What Fee They Paid!

Anca Florentis by Anca Florentis
May 29, 2019
in News
Binance

The popular cryptocurrency exchange Binance relocated a massive sum of $1.26 billion worth of Bitcoin today, a transfer which cost them $124.60 in network fees.

Binance CEO Changpeng Zhao announced this morning that the huge transfer was scheduled to happen today.

“We will be moving some funds between our cold wallets. A tell tale sign of a new cold wallet on Binance is two small transfers from and BACK TO an existing wallet, then a large transaction. No need to be alarmed. Funds are #SAFU.”- read the CEO’s tweet.

Whale Alert quickly notified its Twitter followers that Binance had successfully made several transfers which relocated 145,980 BTC to a new, unknown wallet address.

? ? ? ? ? ? ? ? ? ? 77,410 #BTC (667,243,260 USD) transferred from #Binance to unknown wallet

Tx: https://t.co/dVm3ems9ud

— Whale Alert (@whale_alert) May 29, 2019

The transactions have been recorded on the #578327 and #578328 blocks of the Bitcoin blockchain, which were broadcasted at around 9:00 UTC, May 29.

According to blockchain explorer data, the first transfer involved 77,410.477 BTC ($667 million), resulting in $19.22 worth of network fees.

bianance
Source: Blockchain explorer

The second transfer moved 68,569.60 BTC ($594 million), incurring a heftier fee of $105.38.

bianance2
Source: Blockchain explorer

The Bitcoin network’s unique feature enables users to select the amount of their network fee when they make peer-to-peer transactions.

Smaller fees will result in slower transaction times, and logically, a higher fee will place your transaction at the top of the list, ensuring a faster execution time. This system encourages users to contribute more to the miner fee.

I only assume that the person that hit the Send button to make the first transaction from the Binance cold wallet is still suffering from anxiety.

Tags: BinanceBitcoinBitcoin transferChangpeng Zhaowhale alert
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Anca Florentis

Anca Florentis

Investigative Journalist | Adoption Reporter | Human-Centered Crypto Storyteller
Anca Florentis is a journalist and market researcher whose work sits between investigative reporting and human-centered crypto storytelling. At TheCCPress, she covers adoption, market transparency, founder and company narratives, and the social consequences of crypto expansion across different regions. Her writing is built around people, incentives, and public trust rather than abstract market chatter.

“A strong crypto story should explain not only what happened, but who it affected and why trust changed.”

Profile
- Gender: Female
- Born: July 1993
- Based: Cluj-Napoca, Romania
- Company: TheCCPress
- Website: https://theccpress.com/
- Coverage Focus: Investigations, people, adoption, company stories, regulatory tension

Experience
Anca’s background spans financial reporting, fintech journalism, and crypto research. She has worked on stories involving European regulation, cross-border payments, DeFi adoption, and early Bitcoin use cases, which gives her a broad base for narrative journalism that remains grounded in evidence. At TheCCPress, she is especially useful when a story needs both reporting discipline and a human-centered angle.

Background
She studied economics and international business before deepening her work in digital media and communication. That combination shaped her reporting style: structurally aware, curious about systems, but still focused on the people and organizations moving through those systems. She is particularly effective on pieces where institutional language hides a more personal or social conflict underneath.

Achievements
Anca has contributed feature reporting, event coverage, founder interviews, and market-context journalism across European crypto and fintech topics. Her strongest contributions are stories that connect adoption or regulation with people, incentives, and trust rather than treating those issues as abstract themes.

Work Style
She writes with a measured investigative tone and tends to work from interviews, documented context, and narrative framing rather than short-form reaction. That makes her a strong fit for TheCCPress sections where the goal is to explain how a story unfolded and why it matters beyond a single market cycle.

Skills
Anca’s key strengths include investigative journalism, market research, founder and company profiling, regulatory reporting, feature writing, and cross-border crypto context. She is especially valuable on stories that need both narrative depth and factual discipline.

Additional Information
Within the new site structure, Anca fits naturally in investigations/controversy, people/founders, people/institutions, and selected stories/company-sagas. She helps TheCCPress sound more like a real editorial publication and less like a generic crypto feed.

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