PANews reported on February 23 that according to monitoring by on-chain analyst Yu Jin, the address (0x2E4...b77) that may be Bybit or its affiliates received another 34,743 ETH (US$97.75 million) from Wintermute about 20 minutes ago. They are likely to have purchased a total of 106,498 ETH (US$294.93 million) in the past day or so: through Galaxy Digital, FalconX, and Wintermute.

This address first received 100 million USDT from Bybit’s cold wallet and then began to receive ETH after transferring it to FalconX and Galaxy Digital.