BTC12 Capital/Leifeng just deposited the remaining 10M REN ($555K) to Binance at $0.05545 after over a year of inactivity with the token:

• transaction: 0x11caf4bff30a1c3f524c576d49f744de76b20e133b50c2e15edb7fd834f10f6e
• address: 0x07c2af75788814ba7e5225b2f5c951ed161cb589
• This address belongs to the entity BTC12 Capital/Leifeng

Notably, this marks the end of BTC12 Capital/Leifeng's second REN trade:

• received 17.52M REN from Amber Group OTC on May 6 and 18, 2021, when the price was $0.936 on average (estimated cost: $16.4M);
• deposited the tokens to Binance at only $0.0669 on average ($1.17M) on February 9, 2023, and May 1, 2024;
• realized an estimated loss of $15.2M (-92.9%) if truly buying and selling.

However, BTC12 Capital/Leifeng used to earn an estimated profit of $2.04M (+48.5%) from trading 18.42M REN in the first REN trade from March 13, 2020, to January 6, 2021. As such, the cumulative loss from 2 trades by the VC stands at $13.2M (-64%).

Fig 1. BTC12 Capital/Leifeng's second and latest REN trade.

Fig 2. BTC12 Capital/Leifeng's overall REN trading history.