Back

Ethena Founder’s Wallet Withdraws $20.4 Million in ENA Tokens

A multisig wallet linked to Ethena founder Guy Young has received 48 million ENA tokens, valued at $20.41 million, from Binance and Bybit, but the wallet's purpose remains unclear.

ENA

Summary

A multisig wallet associated with Ethena founder Guy Young has withdrawn 48 million ENA tokens, worth approximately $20.4 million, from Binance and Bybit in the past three days, according to Onchain Lens. The wallet's specific purpose is unknown.

Terms & Concepts
  • Multisig Wallet: A cryptocurrency wallet requiring multiple private keys to approve a transaction, enhancing security for large or shared holdings.
  • ENA Token: The native token of Ethena, a decentralized finance protocol, used for governance and ecosystem utilities.
  • Onchain Data: Information recorded directly on a blockchain network, enabling transparent tracking of transactions and wallet activities.