Crypto Whales’ $187M Shopping Spree Sends Shockwaves

An influential crypto investor has recently gained attention for accumulating a substantial amount of assets worth more than $180 million across various digital currencies over a short span of time.
Based on insights from Lookonchain, a blockchain-tracking platform, this high-net-worth individual acquired approximately $187 million in cryptocurrencies within a three-day period. The assets obtained encompassed Bitcoin (BTC), Binance Coin (BNB) from the Binance ecosystem, Ethereum (ETH), Solana (SOL), Shiba Inu (SHIB), IOST, MATIC, and CHZ tokens.
It’s been observed that this particular investor amassed significant holdings from Binance through three wallets established back in June. The movement of a substantial number of assets out of the exchange during that time suggests the involvement of the same entity behind these wallets.
Additionally, on-chain tracking has detected a considerable influx of USDT stablecoin being generated and directed toward various crypto exchanges.
READ MORE: KyberSwap Vows Compensation After $48.8M Breach
Notably, a significant amount of USDT was minted on both the Ethereum and Tron networks in November.
The flow of this newly minted USDT led to substantial transfers, including approximately 1.5 billion USDT from the Tether Treasury to a whale address (‘0x1dBb’) on Ethereum, followed by its movement to exchanges.
Similarly, on Tron, 2.56 billion USDT was transferred from the Tether Treasury to Kraken via a designated deposit address (‘TQef1n’).