According to the monitoring of chain analyst Yu Jin, after the announcement of the change of WBTC custody rights, Sun Yuchen's address transferred a total of 2,590 BTC (US$156.41 million) to Binance. Subsequently, a newly created address on the Ethereum chain began to withdraw WBTC from Binance, and a total of 1,953 WBTC (US$117.78 million) have been withdrawn so far. In terms of time and motivation, this is likely that Sun Yuchen's team is exchanging BTC for WBTC.