Ceffu’s 120M USDC withdrawal from Ethena puts custody rails in focus

Crypto Insight Summary: An on-chain transfer has become a hot topic in the crypto world this Monday, August 24. According to blockchain tracker Onchain Lens, institutional custodian Ceffu has pulled out 120 million USDC worth from wallets associated with Ethena, which is behind the protocol for USDe valued at $4 billion or more. In a market where institutions... Crypto Insight Analysis: Direction: Bearish ETH / Neutral USDC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Large withdrawal raises concerns about Ethena's liquidity and institutional confidence.