Lookonchain
Binance is buying back stolen assets through market channels and OTC deals. Separately, Ethena deposited 128.63 million ENA, worth $24 million, into Binance over the past eight hours.
Why it matters
The two developments put Binance’s handling of stolen assets alongside a substantial ENA transfer to the exchange. The seed does not establish that the deposit is connected to the buybacks.
Market impact
A large exchange deposit is a notable flow to track, but it does not by itself confirm a sale or establish the transfer’s purpose. ENA holders will be watching for further information about the deposit and Binance’s recovery efforts.
Frequently asked questions
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How much ENA did Ethena deposit into Binance?
Ethena deposited 128.63 million ENA, valued at $24 million, into Binance over the past eight hours.
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Does the ENA deposit relate to Binance’s buyback of stolen assets?
The seed describes both developments but does not establish a connection between the ENA deposit and Binance’s buybacks.
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How is Binance buying back the stolen assets?
Binance is buying back the stolen assets through market channels and over-the-counter deals.
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Does an ENA deposit to Binance mean the tokens were sold?
No. A deposit to an exchange does not by itself confirm that the tokens were sold or explain the transfer’s purpose.
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Why is the ENA transfer being watched?
The 128.63 million ENA transfer is a sizable flow to Binance. Further information could clarify its purpose and whether it has any bearing on the buybacks.
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