Fenbushi Capital moves $7.1M ETH from AAVE to Binance after exploit
Fenbushi Capital transferred 3,063 ETH worth $7.13 million from Aave to Binance following a recent exploit that resulted in $200 million in bad debts on the Aave protocol. The move appears to signal caution among major DeFi participants amid ongoing security concerns. Meanwhile, prediction markets show only a 4% chance of Ethereum reaching $10,000 by year-end, with thin trading volume indicating limited market conviction.
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Fenbushi Capital shifted 3,063 ETH ($7.13M) from Aave to Binance. The Ethereum price market on Polymarket sits at 4% YES for hitting $10,000 by year-end. The withdrawal follows Aave’s recent exploit, which left $200 million in bad debts. Fenbushi’s transfer of ETH to a centralized exchange looks like a retreat from a compromised DeFi protocol. The odds for Ethereum reaching $10,000 by December 31 remain at 4% YES across all sub-markets. Trading volume for the Ethereum market is thin, with only $100 in USDC traded daily. It takes $1,446 to move the odds by 5 percentage points, meaning small trades can have outsized effects. The largest recent move was a 47-point drop, showing that sentiment can shift rapidly with minimal capital.
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