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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.

It was 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.

Source: Cryptopotato