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Wang Chun withdraws $21M in ETH and WBTC from Binance to DeFi protocol Spark

Market News
19 Jun 2026
Crypto Briefing
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Neutral
pluang ai news

Wang Chun, co-founder of major Bitcoin mining pool F2Pool, moved about $20.67 million in Ethereum (ETH) and Wrapped Bitcoin (WBTC) from Binance to the Ethereum-based DeFi protocol Spark. This transfer is part of a larger pattern where Chun has moved over $50 million off centralized exchanges into DeFi platforms focused on lending and yield generation. Spark, with a multi-billion dollar total value locked, allows Chun to maintain Bitcoin exposure via WBTC while earning yield through lending activities. These moves highlight a trend of large crypto holders shifting assets into decentralized finance for potentially higher returns.

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