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Bitcoin Assets Worth $1.65B Withdrawn From Coinbase In 2 Days

Ayush Pande
Written by:
Ayush Pande
Reviewed by:
Ayush Pande
Bitcoin Assets Worth $1.65B Withdrawn From Coinbase In 2 Days
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Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Risk Warning and Our Editorial Process.

Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.

The first transaction occurred on November 24, when around 50K Bitcoin tokens were removed from the exchange. On November 25, another 50K tokens were withdrawn from Coinbase, reducing the net worth of Coinbase’s Bitcoin assets by over $1.65B.

Interestingly, Coinbase’s CEO, Brian Armstrong, claimed the exchange holds over 2B Bitcoin tokens just a few hours before the first withdrawal occurred.

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It is worth noting that the sudden decline in Bitcoin reserves is not unique to Coinbase. According to Glassnode's metrics, many major crypto exchanges witnessed a significant increase in the outflow of Bitcoin over the last month.

The large-scale withdrawal of Bitcoin from exchanges is synonymous with a surge in users who store BTC assets in self-custody wallets. Glassnode recently reported that the number of wallets that hold at least 1 Bitcoin has surpassed the 950K mark.

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Ayush Pande
Written by:
Ayush Pande
Co-Founder & CEO

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author
Ayush Pande
Reviewed by:
Ayush Pande
Writer

Bitcoin Assets Worth $1.65B Withdrawn From Coinbase In 2 Days

Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.
Crypto exchanges
Dot
April 6, 2025
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

in
TABLE OF CONTENTS
Brian Armstrong; Photo Source: TechCrunch

Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.

The first transaction occurred on November 24, when around 50K Bitcoin tokens were removed from the exchange. On November 25, another 50K tokens were withdrawn from Coinbase, reducing the net worth of Coinbase’s Bitcoin assets by over $1.65B.

Interestingly, Coinbase’s CEO, Brian Armstrong, claimed the exchange holds over 2B Bitcoin tokens just a few hours before the first withdrawal occurred.

‍



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Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


‍

It is worth noting that the sudden decline in Bitcoin reserves is not unique to Coinbase. According to Glassnode's metrics, many major crypto exchanges witnessed a significant increase in the outflow of Bitcoin over the last month.

The large-scale withdrawal of Bitcoin from exchanges is synonymous with a surge in users who store BTC assets in self-custody wallets. Glassnode recently reported that the number of wallets that hold at least 1 Bitcoin has surpassed the 950K mark.

‍

Coinbase
Bitcoin
Brian Armstrong
Glassnode
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November 25, 2022

Bitcoin Assets Worth $1.65B Withdrawn From Coinbase In 2 Days

HomeCrypto exchanges
Blog Post
Contents
Brian Armstrong; Photo Source: TechCrunch

Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.

The first transaction occurred on November 24, when around 50K Bitcoin tokens were removed from the exchange. On November 25, another 50K tokens were withdrawn from Coinbase, reducing the net worth of Coinbase’s Bitcoin assets by over $1.65B.

Interestingly, Coinbase’s CEO, Brian Armstrong, claimed the exchange holds over 2B Bitcoin tokens just a few hours before the first withdrawal occurred.

‍



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


‍

It is worth noting that the sudden decline in Bitcoin reserves is not unique to Coinbase. According to Glassnode's metrics, many major crypto exchanges witnessed a significant increase in the outflow of Bitcoin over the last month.

The large-scale withdrawal of Bitcoin from exchanges is synonymous with a surge in users who store BTC assets in self-custody wallets. Glassnode recently reported that the number of wallets that hold at least 1 Bitcoin has surpassed the 950K mark.

‍

Coinbase
Bitcoin
Brian Armstrong
Glassnode
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

in

Coinbase recorded the third-highest volume of Bitcoin withdrawals as 100K BTC tokens were pulled out of the exchange in the last 48 hours.

The first transaction occurred on November 24, when around 50K Bitcoin tokens were removed from the exchange. On November 25, another 50K tokens were withdrawn from Coinbase, reducing the net worth of Coinbase’s Bitcoin assets by over $1.65B.

Interestingly, Coinbase’s CEO, Brian Armstrong, claimed the exchange holds over 2B Bitcoin tokens just a few hours before the first withdrawal occurred.

‍



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


‍

It is worth noting that the sudden decline in Bitcoin reserves is not unique to Coinbase. According to Glassnode's metrics, many major crypto exchanges witnessed a significant increase in the outflow of Bitcoin over the last month.

The large-scale withdrawal of Bitcoin from exchanges is synonymous with a surge in users who store BTC assets in self-custody wallets. Glassnode recently reported that the number of wallets that hold at least 1 Bitcoin has surpassed the 950K mark.

‍

Written by
Ayush Pande
Coinbase
Bitcoin
Brian Armstrong
Glassnode

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