Chun Wang, the co-founder of Bitcoin mining pool F2Pool, withdrew 4,950 ETH worth $7.74 million from Binance, extending a sustained accumulation streak that has now totaled 91,945 ETH valued
Chun Wang, the co-founder of Bitcoin mining pool F2Pool, withdrew 4,950 ETH worth $7.74 million from Binance, extending a sustained accumulation streak that has now totaled 91,945 ETH valued at $159.9 million since May 26.
The latest transfer of 4,950 ETH marks another sizable move from Binance to wallets linked to Wang. At the time of the withdrawal, the batch carried a dollar value of $7.74 million. For related coverage, see Base Says Bug Behind Blockchain Outages Has Been Patched.
On-chain records tied to Wang's identified wallet show a pattern of repeated outflows from the exchange over the past month. This latest transaction follows a series of similar moves, including a 9,000 ETH transfer worth $17.86 million and a separate 17,560 ETH withdrawal reported in recent weeks.
The scale of Wang's activity sets it apart from routine exchange movements. Since May 26, his wallets have pulled a cumulative 91,945 ETH off Binance, a total valued at $159.9 million at the times of each respective transfer.
The original headline reporting this activity appears truncated after referencing "97," suggesting an additional figure was cut off. Only the confirmed totals of 91,945 ETH and the $159.9 million valuation can be attributed to the available data.
The persistence of these withdrawals over roughly one month points to deliberate accumulation rather than sporadic trading activity. Removing tokens from an exchange generally reduces immediately available sell-side supply on that platform.
Sustained exchange outflows of this magnitude from a single entity are a signal that on-chain analysts and traders routinely monitor. Large withdrawals from centralized exchanges reduce the liquid supply available for spot selling, a dynamic that market participants track alongside broader flow data.
Wang's withdrawals come during a period when U.S. spot Ethereum ETFs have faced their own flow dynamics, adding another layer to the broader Ethereum supply picture.
The confirmed withdrawal pattern remains visible on-chain for any observer to verify independently through previous coverage and block explorer records.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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