What has F2Pool co-founder Wang Chun been doing with Ethereum (CRYPTO:ETH) since late May?

Wang Chun has been systematically withdrawing large amounts of Ethereum (CRYPTO:ETH) from Binance since 26 May. His cumulative withdrawals total 91,945 ETH worth approximately US$159.9 million, with the latest single transaction adding another 4,950 ETH valued at US$7.74 million, bringing his total recent accumulation close to 92,000 ETH.

How much has Wang Chun spent in total across Ethereum (CRYPTO:ETH) and Wrapped Bitcoin (CRYPTO:WBTC)?

Wang Chun has withdrawn a combined US$220.62 million worth of crypto from Binance since 26 May. That breaks down to approximately US$159.9 million in Ethereum (CRYPTO:ETH) and US$60.72 million in Wrapped Bitcoin (CRYPTO:WBTC), representing 91,945 ETH and 973 WBTC respectively across multiple transactions.

Why does moving crypto from Binance to a private wallet matter for investors?

When large holders withdraw crypto from an exchange to a private wallet, it typically signals long-term holding intent. Assets sitting on exchanges are readily available for sale, so moving them off-exchange reduces immediate sell pressure. Wang Chun's consistent withdrawal pattern across multiple transactions reinforces the interpretation of a deliberate accumulation strategy rather than short-term trading.

Who is Wang Chun and why does his Ethereum (CRYPTO:ETH) accumulation matter to the market?

Wang Chun is the co-founder of F2Pool, one of the world's largest cryptocurrency mining pools, making him a high-profile and well-connected industry insider. Large accumulation moves by figures of his standing are closely watched because they can signal conviction about an asset's direction and may influence retail sentiment toward Ethereum (CRYPTO:ETH).

What is Lookonchain and how reliable is its on-chain data?

Lookonchain is an on-chain analytics platform that monitors and publicly flags large wallet movements across blockchain networks. It tracks publicly visible transaction data recorded on-chain, meaning the withdrawal figures it reported for Wang Chun's address are verifiable on the Ethereum blockchain rather than based on self-reported claims.

Image for illustrative purposes only. Not a real photo.

F2Pool co-founder boosts ETH holdings near 92K

Written by Mahathir BayenaPublished Jun 28, 2026, 8:29 AM

Wang Chun, co-founder of cryptocurrency mining pool F2Pool, has withdrawn an additional 4,950 Ethereum (CRYPTO:ETH) from Binance, valued at approximately US$7.74 million.
The latest withdrawal was flagged by on-chain analytics platform Lookonchain, which monitors large wallet movements across blockchain networks.
Since 26 May, Wang Chun's wallet address has cumulatively withdrawn 91,945 ETH worth approximately US$159.9 million from Binance.

Over the same period, the F2Pool co-founder also withdrew 973 Wrapped Bitcoin (CRYPTO:WBTC) from Binance, valued at approximately US$60.72 million.

The combined value of Wang Chun's ETH and WBTC withdrawals from Binance since 26 May totals approximately US$220.62 million.

The consistent withdrawal pattern across multiple transactions suggests a deliberate accumulation strategy rather than a one-off purchase.

Moving large volumes of cryptocurrency from an exchange to a private wallet is generally interpreted as a long-term holding signal, as assets held on exchanges are more readily available for sale.

At the time of reporting, Ethereum price was $1,569.42.