Next time when you post news like this don't forget to add the source, after some search those BTC was spent yesterday and they are not from any exchange, so we have a big whale on the game...

here is the transactions list:

https://www.blockchain.com/btc/tx/e03e0d753a6c9780336cb0c4a0be3f19ff3bb4cff3c34193531ce0277fb20f4b 47,454 BTC worth $451.0 million 
https://www.blockchain.com/btc/tx/997fefc69cd327fb6570c0f6f76c9c053071592e67610140d632b2efc9748c6a 47,404 BTC worth $450.5 million 
https://www.blockchain.com/btc/tx/58d6606d6e16e3899dffe687dc78514420630eb4aa1b5e0f19971a9727f81644 47,465 BTC worth $451.1 million 
https://www.blockchain.com/btc/tx/72acde2d5efc7f0e841d60b4e0cc09d521b2d20243bacd90e87df29a4627c4d5 /1 5,400 BTC worth $51.5 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /5 5,357 BTC worth $51.2 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /4 5,700 BTC worth $54.5 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /3 6,400 BTC worth $61.1 million 
https://www.blockchain.com/btc/tx/82e9086ff65ae15de38e128b5df6278f7a6d4adeb1c0f0c6e9e4ce446b5c65d2 /2 6,600 BTC worth $63.1 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /5 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /4 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /3 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /2 6,000 BTC worth $56.8 million 
https://www.blockchain.com/btc/tx/704cb7fe54df8d7afaa7f9bf57fbde41d05108f20aa490e59f2871079a95b29c /1 6,200 BTC worth $58.7 million 
https://www.blockchain.com/btc/tx/c8489f10b7430587e0bd54cce1e9ec36f927d77f81eadd09e9042c347d1864e7 47,357 BTC worth $448.5 million 
https://www.blockchain.com/btc/tx/bb6621428de185bb2ae8b10a63f030b1af61aeca904e2fd6a4399ac41acf5a14 /3 6,756 BTC worth $63.8 million 
https://www.blockchain.com/btc/tx/bb6621428de185bb2ae8b10a63f030b1af61aeca904e2fd6a4399ac41acf5a14 /2 7,000 BTC worth $66.1 million 
https://www.blockchain.com/btc/tx/31e4985c274179df94e3322e710733f9ddb2757da2fe6c486000376cb55e7488 /1 5,800 BTC worth $54.8 million 
https://www.blockchain.com/btc/tx/003b44b752358ae6834c66dadb7f3c48a23e6e028091df961ea90b0e35da2a37 49,756 BTC worth $468.4 million 

Sources: https://dailyhodl.com/2019/07/29/massive-crypto-whales-move-318649-btc-worth-3-billion-in-just-six-hours/
https://www.reddit.com/r/CryptoCurrency/comments/cjfzev/massive_crypto_whales_move_318649_btc_worth_3/

That is a shit ton of money. I don't think this is the work of a single individual. This is probably the work of a group of rich whales transferring the funds.

The fees doesn't look too high based on what I have observed. Just imagine the fees involved if the whale chose something like paypal etc. 1.34% of all BTC currently in circulation. Insane indeed.

This is likely just some exchange moving funds from one version of its cold storage wallet to another.

Exchanges often don't advertise their cold storage addresses, or the time frames when they will be making this move as it could be seen an invitation for attack.

No single person owns more than 1% of the total circulating supply of Bitcoin, so this must be a multi-sig address.

xapo is a good wallet yet they know their customers very much, what will happen if somebody hacked into their databases