Multisign 0xc69 just deposited 14.49M ENA ($3.49M) to Binance:

• transaction: 0xd17deeb475264f76132c3f44c3056ccb02afb4b8e82a8e0c96feb7fdedcab88c
• address: 0xc69101e2640a7183b8633ddcc4db42cc99863093

Notably:

• This is the multisign's first ENA offload. The multisign unstaked these tokens from Pendle Finance 23 hours ago.
• The multisign may be related to the Ethena team for receiving 13.69M ENA from 4 multisign wallets linked to Ethena between April 27 and June 28, 2024.
• Apart from the tokens from the Ethena team, the multisign also withdrew 99.84M ENA from Bybit, Gate.io, and KuCoin at $0.593 on average (estimated cost: $59.2M) between April 22 and August 13, 2024. The whale currently has an estimated total loss of $35.1M (-59.3%) from this position.
• The multisign now has 102.5M ENA ($24.79M) left, with only 194,799 ENA ($46.8K) in the wallet and the rest under staking with Ethena.

Fig 1. The latest 4 ENA transactions of Multisign 0xc69.

Fig 2. Multisign 0xc69's ENA withdrawals and deposits from/to CEXs.