On-chain data reveals significant capital movements tied to a major crypto platform. In just the past 11 hours, roughly $50M in withdrawals were processed. Looking at the broader picture: since mid-October, approximately 617.5M USDC has flowed into Kraken from this entity. Simultaneously, the ecosystem saw 1.1B USDC move from Kraken to Circle through a specific wallet address (DTQK7G). Over a 15-month window—spanning from May 2024 through August 2025—this platform executed a substantial liquidation strategy. These coordinated transfers suggest deliberate capital repositioning across major stablecoin infrastructure and trading venues. The scale of these movements signals either portfolio rebalancing or strategic cash-out operations worth monitoring for traders tracking large institutional flows.