Suspicious Whale Withdraws $51 Mln Worth Assets From Binance

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Suspicious Whale Withdraws $51 Mln Worth ETH, SHIB, And Other Cryptos From Binance – Crypto News

Published

3 years ago

November 30, 2023

Dripp

As per on-chain data provider Spot On Chain, a suspicious whale accumulation, identified by the address (initials) 0x865, has recently executed two substantial transactions on Binance. On November 30, 2023, the whale withdrew 60,000 BNB ($13.73M) and 1.6M MATIC ($1.22M), adding to its recent activity.

Whale Transferred More Than $51 Mln to Binance

In the past 18 hours, this whale has withdrawn a staggering $51.54M in assets, as detailed in the previous signal. The current holdings of the whale amount to $53.36M, comprising various tokens.

The previous withdrawals included 10,000 ETH ($20.3M), 45,000 BNB ($10.2M), 300B SHIB ($2.47M), 260M old IOST ($2.4M), 16M CHZ ($1.18M), and a small amount of $3,339 worth of JASMY, MKR, GALA, ARB, OP, GRT.

The address 0x865, associated with this whale, was created 175 days ago on June 8, 2023. Notably, despite its creation date, the whale only recently began accumulating a significant amount of tokens. The whale currently owns various assets valued at $53.36 million.

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Whale Movement Sparks Speculations

The recent accumulation is raising suspicions about its affiliation, possibly with the Binance exchange itself. Following a lawsuit by the US DoJ, the treasury enforced a settlement penalty of $4 billion on Binance.

As of now, there’s no announcement of Binance liquidating its holding to pay the settlement money. However, there’s a possibility that Binance might sell some of its holdings to clear the fine imposed.

In a recent report from Defillama, it has been revealed that Binance currently owns a substantial total asset holding of $66.917 billion. The breakdown of these holdings includes a staggering $20.578 billion in Bitcoin (BTC), underlining Binance’s significant presence in the BTC market.

Additionally, the exchange holds $18.84 billion in Tether (USDT), a popular stablecoin, further solidifying its influence in the stablecoin sector. Notably, Binance also has a noteworthy position in the Ethereum (ETH) market, with $8.085 billion in Wrapped Ethereum (WETH/ETH).

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