Bitcoin OG deposits 5,000 BTC worth $351M to Binance

A Bitcoin OG address has deposited a total of 5,000 BTC, valued at $351 million, to Binance over the past two hours, according to Lookonchain. Separately, Onchain Lens noted an initial deposit of 800 BTC ($56.15 million) from the same address, identified as 1011short. The firm added that the address still holds 799 BTC ($55.89 million) and could make further deposits. Deposits to exchanges are typically interpreted as a precursor to selling. Meanwhile, some in the crypto community speculate that the address belongs to Garrett Jin, the former CEO of the defunct exchange BitForex.