Key facts
- F2Pool co-founder Chun Wang withdrew 17,560 ETH from Binance.
- The value of the withdrawn ETH was approximately $28.67 million.
- The withdrawal occurred as Ether approached the $1,500 support level.
- The transaction was tracked by Arkham Intelligence.
Chun Wang, co-founder of F2Pool and a prominent figure in crypto mining, has withdrawn approximately $28.67 million worth of Ethereum (ETH) from the Binance exchange. The withdrawal, totaling 17,560 ETH, took place over a 16-hour period. On-chain data tracked by Arkham Intelligence indicates that this significant transaction occurred at a critical juncture for Ether, as the cryptocurrency was nearing the $1,500 support level. The timing of Wang's substantial withdrawal from a major exchange has drawn market attention.