F2Pool’s Chun Wang Moves 9,000 ETH Worth $17.86M Off Binance in Single Transfer
A wallet linked to F2Pool co-founder Chun Wang withdrew 9,000 ETH worth $17.86 million from Binance and deposited it into an external address, on-chain data shows.
ON-CHAIN DATA
- Aave deposit tx: 0xa05933dd…488c68
- Deposit amount: 9,000 ETH → 9,000 aETHWETH received
- Destination contract: Aave Lending Gateway (0xd01607c3…325722)
- Block timestamp: March 27, 2026, 17:59 UTC
Depositing into Aave rather than selling or transferring to cold storage signals yield-seeking behavior. Supplied ETH on Aave earns variable interest from borrowers and can serve as collateral for further borrowing, a common strategy for leveraged DeFi positioning. The simultaneous stablecoin loan repayments reinforce that Wang is actively managing a leveraged ETH-long position on the protocol.
This is not a new pattern. Arkham Intelligence flagged the same wallet in early March, noting that an address linked to Wang had withdrawn $67.5 million worth of ETH from Binance over two weeks and held $150 million of ETH deposited into Aave at that time.
IS CHUN WANG ACCUMULATING ETH?
An address associated with Chun Wang, the founder of F2Pool, one of the earliest Bitcoin mining pools, has withdrawn $67.5M ETH from Binance in the past 2 weeks. This address now holds $150M of ETH deposited to AAVE.
Over the past 1.5 months, Chun… pic.twitter.com/i0t4wm4InR
— Arkham (@arkham) March 2, 2026
Source: @arkham on X
The March 27 withdrawal of another $17.9 million in ETH shows that Wang’s accumulation strategy has continued for at least a month beyond Arkham’s initial report, even as ETH prices have remained under pressure. The wallet attribution is based on on-chain tracking tools and has not been publicly confirmed by Chun Wang himself.
With ETH’s market cap at $240.39 billion and 24-hour trading volume near $19.46 billion, a single $17.9 million deposit does not move the market on its own. But as a data point in a sustained accumulation pattern by a named industry figure, it adds to the growing body of evidence that well-capitalized actors are using the current fear cycle to build ETH positions through DeFi yield strategies rather than passive holding.
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.
