Binance SAFU Fund BTC Holding Shrinks by 15%, Still Holding $800M USDC to Buy

On February 6, HyperInsight monitoring data reveals that a whale address (0xa9c...) on Hyperliquid has held a long position in ASTER that’s been heavily underwater for nearly four months. The position was opened on October 15 last year at an average price of approximately $1.37. It currently has an unrealized loss of around $2.14 million—equivalent to an 866% loss, or nearly 9x the initial principal. The current position size is about $1.23 million, with a liquidation price of $0.31. Additionally, the address has recently been actively trading xyz:SILVER (a synthetic silver asset) and xyz:XYZ100 (a synthetic Nasdaq 100 index asset), chasing price swings. Its most recent close was a SILVER long position from seven days ago: the position size once peaked at $7.86 million, and it exited with a loss of roughly $1.67 million. After multiple losses, the address’s account balance has dwindled to approximately $0.54 million.

Chris Burniske, former crypto lead at Ark Invest and now a partner at Placeholder VC, said on Feb 6: “Watching closely, but not buying in yet. Expect a bounce, but fear this washout isn’t over yet.” Previously reported, on Jan 26, Burniske stated: “I haven’t started buying in yet—focusing on key support levels at $80k, $74k, $70k, $58k, and $50k and below. It’s important to note I’m not concerned about short-term market moves. If the price continues to bounce from current levels, I’ll hold my existing positions and gradually diversify my investments; if the market sees a significant drop, I’ll keep buying more BTC and a select few crypto assets.”

On February 6th, per GMGN monitoring data, Solana meme coin Buttcoin surged again this morning. Its short-term market cap rebounded to $30 million, currently standing at $28.6 million, with a current price of roughly $0.0286. The token is up 36% over the past 24 hours, with trading volume totaling approximately $5.3 million. BlockBeats reminds users that meme coin trading is extremely volatile—largely driven by market sentiment and meme hype—with no underlying value or real-world use case. Investors should be aware of the risks.

February 6 — Per blockchain analytics from LookOnChain, prominent ETH holder and staker Konstantin Lomashuk (co-founder of P2P.org and Cyber.Fund, @Lomashuk) appears to be offloading ETH. Two wallet addresses potentially linked to Lomashuk have transferred 12,458 stETH (roughly $23.76 million) and 2,566 ETH (roughly $5.38 million) to crypto market maker Wintermute.

On February 6, The Block reported that Strategy CEO Phong Le told investors the company’s balance sheet remains strong despite Bitcoin’s recent price drop. During Strategy’s fourth-quarter earnings call, Le noted Bitcoin would need to fall to $8,000 and stay there for five to six years to pose a meaningful threat to the company’s ability to repay its convertible debt. “In an extreme downside scenario—if Bitcoin drops 90% to $8,000—our Bitcoin reserves would match net debt, and we’d no longer be able to repay convertible bonds using those reserves,” Le said. “At that point, we may need to consider restructuring, issuing more shares, or taking on additional debt.”

On Feb. 6, GMGN monitoring data shows Solana meme coin WhiteWhale has continued to rally recently, with a market cap exceeding $120 million. It’s currently trading at ~$0.127, up 12% in the past 24 hours, on $4.9 million in volume. The White Whale — a well-known trader on X and Hyperliquid — currently holds ~$56 million in WhiteWhale tokens, accounting for 56.6% of the total supply. He has an unrealized profit of $18.1 million (29%) and has not sold any positions yet. The meme coin was initially created by fans using The White Whale’s avatar. He later took over the project and significantly increased his position through purchases. BlockBeats notes that meme coin trading is highly volatile, heavily reliant on market sentiment and hype, and has no underlying value or use case. Investors should be aware of the risks.