a16z-Linked Wallet Withdraws 25,560 ETH Worth $42.6M From Binance at $1,672

On June 24, an a16z-linked wallet withdrew 25,560 ETH valued at $42.62 million from Binance while ETH traded near $1,672. The outflow extends the June 23 pattern that included a separate 12,780 ETH transfer the same day and earlier removal of over 224,000 HYPE tokens. Market observers interpret the move as a shift toward self-custody rather than immediate selling, though it reduces exchange liquidity amid ETH's position far below its $4,946 all-time high and ongoing ETF outflows. a16z has also maintained a roughly $192 million HYPE position, underscoring its continued on-chain activity.