BitForex Co-Founder Moves $1.35B in Ethereum Before Market Drop

Between May 6 and May 10, Garrett Jin, co-founder of the now-defunct cryptocurrency exchange BitForex, transferred 577,717 ETH, valued at roughly $1.35 billion, to Binance at an average price of $2,337.

In the period that followed, Ethereum’s market performance weakened significantly, with the asset dropping more than 20% and trading near $1,875 at the time of reporting.

Source: Lookonchain