Korean publicly listed company Bitmax transfers 550 BTC to CEX, claiming it's only for custody transfer.

BlockBeats News, March 17th, according to the South Korean media The Korea Economic Daily, South Korean KOSDAQ-listed company and Bitcoin treasury firm Bitmax has transferred approximately 550 BTC from its wallet to crypto CEXs such as OKX, Bitget, Binance, Bybit. On-chain data shows that the transfers started on January 15th and were completed on February 5th.

Bitmax stated that this was only a transfer to custody addresses and that they still hold all the bitcoins, but did not specify the exact reason for the transfer. If the related BTC has been sold, it would mean that the company has liquidated its Bitcoin holdings without disclosure.