Crypto billionaire and Tron network founder Justin Sun withdrew $29.7 million of ether (ETH) from liquid staking platform Lido Finance, then sent the tokens to crypto exchange Huobi, blockchain data shows.
Sun’s crypto wallet received a total of 15,805 ETH from Lido’s withdrawal address on Thursday after requesting to unstake the tokens the day before, data by blockchain monitoring platform Arkham Intelligence shows.
A few minutes later, the wallet deposited 15,815 ETH to Huobi through an intermediary address, according to Arkham. Sending tokens to an exchange often signals intention to sell.
Sun unstakes $30 million of staked ETH (Arkham Intelligence)
Sun sends $30 million of ETH to Huobi (Arkham Intelligence)
After the transaction, crypto wallets linked to Sun still held 287,855 of Lido’s staked ether (stETH) tokens, worth some $543 million, per Arkham.
