F2Pool Founder Withdraws $28.7M ETH from Binance Over 16 Hours

On 2026-06-06, F2Pool founder Chun Wang withdrew 17,560 ETH worth approximately $28.67 million from Binance in multiple transactions spanning 16 hours. This follows the prior day's transfer of 9,719 ETH ($16.16 million) directly into the Spark DeFi lending protocol. On-chain data flagged by Lookonchain shows the latest outflows moved funds into private custody, reducing exchange liquidity. Market observers view the cumulative activity as a potential accumulation signal rather than preparation to sell.