Analysis: Binance's CZ Possibly a 'BTC OG Whale' Proxy

BlockBeats News, June 7th. According to on-chain analyst Ember Monitor, since February this year, an address cluster has accumulated approximately 284 million "Binance Life" tokens through continuous buying on the chain and withdrawals from Binance, accounting for 28.4% of the total token supply. During the same period, the "Binance Life" price has surged from around $0.04 to $0.85, an increase of over 20x. If the holdings in centralized exchange accounts are also taken into account, the control of circulating chips by this address cluster may be further increased.

Further analysis reveals that this address cluster has a clear on-chain connection with the well-known market "BTC OG Insider Whale" agent Garrett Jin Whale entity. Several addresses that withdrew large amounts of "Binance Life" from Binance had previously shared the same Binance deposit address with the Garrett Jin entity six months ago. Additionally, addresses that have been continuously increasing their holdings of this token on the chain in recent days have shared a common Bybit deposit address with the Garrett Jin entity in the past 5 days.

Cross-referencing on-chain behaviors indicates a strong relationship between the two. In conclusion, it is highly likely that "Binance Life" is being cornered by the Garrett Jin Whale entity.