Founder of China’s Largest Bitcoin Mining Company Made a Large Crypto Purchase Today

Addresses allegedly linked to Wang Chun, a co-founder of F2Pool, one of the largest Bitcoin mining pools based in China, are claimed to have accumulated Ethereum ($ETH) and Wrapped Bitcoin (WBTC).

According to the data, the address 0xF42…f2b51, which is thought to be associated with Wang Chun, withdrew 7,650 $ETH and 124.18 WBTC from Binance in the last 4 hours.

The total value of the assets in question was stated to be approximately $20.67 million. Following the transactions, the $ETH and WBTC were deposited into the Spark protocol.

However, Wang Chun’s interest is not limited to Bitcoin and Ethereum, and he has previously made various statements regarding different altcoins. In a post he published in April, Chun expressed his regret for selling his $SPK token early after making purchases. At that time, $SPK was listed by Upbit and its price increased by 73%.

However, following its surge in April, the Capital Markets Board ($SPK) shares are currently trading 53% lower than they were in April at the time of writing.

*This is not investment advice.