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$56M Worth of ETH Transferred from Binance and Coinbase to Three Arrows Capital’s Wallet

The hedge fund manager, which has somewhat of a controversial recent history with Ethereum’s native token, has transferred nearly 15,000 coins from Binance and Coinbase to its wallet.

  • The blockchain journalist Colin Wu outlined the most recent interaction of Three Arrows Capital with Ethereum, outlining the transfers of ETH from the two large exchanges to the firm’s wallet.
  • In total, the hedge fund manager transferred 14,833 ETH, worth approximately $56 million at today’s prices.

  • With this transfer, the company has only doubled down on its ETH accumulation since the start of December.
  • As CryptoPotato reported last week, 3AC sent more than 90,000 ETH valued at around $400 million at the time to its wallets in two days.
  • What’s more intriguing about these purchases is that they came shortly after the firm’s CEO revealed a change-of-heart attitude against Ethereum and its native cryptocurrency.
  • Su Zhu notably said in November that the company had “abandoned Ethereum despite supporting it in the past.”
  • His comments led to a lot of criticism from the crypto community, and he later explained that the word “abandon” was not the most suitable one, and he apologized for using it.
Read more:  Better Than This Year: Bitcoin Price to Hit $120,000 in 2021, Tom Lee Predicts

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