On-chain analyst Ember said an address linked to F2Pool co-founder Wang Chun transferred 12,800 ETH to Binance, a position valued at $28.73 million based on the figures cited in the report. The address then withdrew $87.68 million in USDC and used the funds to repay debt on Spark. The activity came during a rise in ETH, and the reported sequence points to a reduction in leverage rather than a fresh buildup in exposure. After the transactions, the address still held 65,000 ETH worth $159 million and 1,000 WBTC worth $77.18 million, according to the same monitoring data. The update was published by Odaily, citing on-chain tracking from Ember.
Odaily reported, citing on-chain analyst Ember, that an address linked to F2Pool co-founder Wang Chun (0x268...7643) transferred 12,800 ETH to Binance, valued at $28.73 million.
The address later withdrew $87.68 million in USDC and used the funds to repay its borrowing on Spark.
After those transactions, the address still held 65,000 ETH worth $159 million and 1,000 WBTC worth $77.18 million, according to Ember's monitoring.
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