According to @EmberCN, a single whale or institution pivoted long after a $24.48M profit from shorting ETH, borrowing roughly 190M USDT on Aave, sending it to Binance, and withdrawing 163,680 ETH (~$581M) to on-chain wallets on Nov 11–12, 2025; source: @EmberCN on X and Arkham Intelligence entity https://intel.arkm.com/explorer/entity/16090b03-b744-484a-8a6d-b1c62b21fd95. According to @EmberCN, when combined with Nov 5 flows of 702M USDT into Binance and 191,477 ETH (~$638M) withdrawn, the entity accumulated about 355,000 ETH (~$1.22B) within one week; source: @EmberCN on X and Arkham Intelligence entity https://intel.arkm.com/explorer/entity/16090b03-b744-484a-8a6d-b1c62b21fd95. According to @EmberCN, the average acquisition price for these Binance withdrawals is approximately $3,436 per ETH based on withdrawal-time prices; source: @EmberCN on X. According to @EmberCN, the tracked wallet cluster and on-chain flows are viewable via Arkham Intelligence and align with the described Aave borrow, Binance funding, and subsequent ETH withdrawals to self-custody; source: @EmberCN on X and Arkham Intelligence entity https://intel.arkm.com/explorer/entity/16090b03-b744-484a-8a6d-b1c62b21fd95.