F2Pool Co-Founder Wang Chun Accumulates Over $150M in ETH, WBTC, and BTC — A Comprehensive On-Chain Breakdown

Since early June 2026, F2Pool co-founder Wang Chun has executed a massive, multi-stage crypto accumulation spree totaling well over $150 million across ETH, WBTC, and BTC. The buying accelerated sharply after ETH dipped below $1,700 and has continued through at least June 24, 2026, with much of the acquired ETH being staked or deployed into DeFi lending protocols — signaling strong long-term conviction from one of China's largest mining insiders during a period of price weakness.

Transaction-by-Transaction Breakdown (Past ~3 Weeks)

June 5 — 9,719 ETH

Wang Chun's linked wallet withdrew 9,719 ETH from Binance , the first of three concentrated ETH dip-buys.

June 6 — 17,560 ETH

A second withdrawal of 17,560 ETH from Binance .

June 12 — 15,740 ETH (~$26.4M)

The address 0xF42…f2b51 withdrew 15,740 ETH (≈$26.4M) from Binance within two hours, tracked by Lookonchain . Large CEX outflows of this kind are typically interpreted as a bullish signal implying intent to hold or stake rather than sell .

Subtotal of early-June ETH accumulation: ~43,019 ETH (three trades), with on-chain data showing roughly $8.6M in unrealized profit by mid-June as ETH rebounded toward ~$1,810 .

June 19 — 7,650 ETH + 124.18 WBTC (~$20.67M) → Deposited into Spark DeFi

The same wallet withdrew 7,650 ETH and 124.18 WBTC (~$20.67M total) from Binance over a four-hour window and immediately deposited the entire sum into Spark, an Ethereum-based DeFi lending and borrowing protocol built on Sky's stablecoin ecosystem . This was the first clear DeFi strategy deployment in the accumulation sequence.

June 20 — 11,448 ETH + 224.66 WBTC (~$33.4M)

In a compressed 15-hour window, Wang Chun acquired:

• 11,448.4 ETH (≈$19.35M) at an average price of ~$1,690 per ETH
• 224.66 WBTC (≈$14.05M)

Total: ~$33.4M in a single concentrated buying session .

June 23–24 — 50 WBTC + 822.51 ETH (~$4.57M)

The most recently reported transaction (as of June 24):

• 50 WBTC at an average price of ~$62,260
• 822.51 ETH at an average price of ~$1,771.89

Total: ~$4.57M within 24 hours .

Cumulative Totals (Past ~3 Weeks)

Metric	Amount
Total ETH withdrawn from Binance	~54,500 ETH (~$93.25M) by June 20 alone, over roughly 15 days
Total ETH staked	37,400 ETH (≈$63.88M) — reducing circulating supply
Combined ETH + WBTC since June 18	~$50.71M (12,282.9 ETH at avg $1,696.41 + 475.87 WBTC at avg $62,788) per one aggregated tally through June 24
Overall estimated total (all June transactions)	Well over $150M across ETH, WBTC, and BTC

On-Chain Mechanics and DeFi Strategy

• Primary source: Nearly all withdrawals originated from Binance, moved to wallet 0xF42…f2b51 .
• Staking: At least 37,400 of the 54,500 ETH withdrawn through June 20 were subsequently staked, reducing exchange-available supply .
• Spark Protocol deposit: On June 19, the full ~$20.67M of ETH and WBTC was deposited into Spark, a Sky-ecosystem DeFi lending market, allowing Wang Chun to earn yields or borrow against the assets .
• Pattern: Batch-style accumulation from centralized exchange → private wallet → staking or DeFi deployment, rather than simple exchange holding.

Broader Accumulation Pattern and Industry Context

Wang Chun's sustained buying since March 2026: On-chain monitors note that the accumulation has been continuous since at least March 2026, not just a June phenomenon . The June activity represents a marked acceleration timed to the ETH dip below $1,700 .

Mining insider conviction during price weakness: Wang Chun is co-founder of F2Pool, the world's fourth-largest Bitcoin mining pool by hashrate . His aggressive dip-buying — converting exchange liquidity into staked ETH and DeFi collateral — is widely interpreted by on-chain analysts as a signal that large mining insiders see current prices as attractive long-term entry points, even amid broader market uncertainty . The choice to stake rather than trade, and to deploy into DeFi rather than leave idle, reinforces a "hold and earn" conviction posture rather than a short-term speculative flip.

Key caveat: Wallet attribution is based on on-chain analyst monitoring (sources like ai_9684xtpa, Lookonchain, Yu Jin) and is described as "suspected" or "linked" to Wang Chun — no official confirmation from Wang Chun or F2Pool has been published . However, the consistency and scale of the pattern, combined with the multiple independent tracking sources, make the attribution highly credible.