Whale Withdraws 110,000 ETH from Binance After $23.31M Short Profit

A whale or institution that earned $23.31 million by shorting 66,000 ETH withdrew 110,000 ETH ($386 million) from Binance approximately 90 minutes after depositing 91.2 million USDC to the exchange, on-chain data show. Combined with the repayment of 64,000 ETH from the short position, the entity withdrew a total of 174,144 ETH ($621 million) from Binance within the past 24 hours. On-chain monitoring service Yu Jin reported on Nov. 4 that the whale appears to be shifting from short to long positions.