Nansen, an on-chain analysis platform, tweeted that it has confirmed that the "whale" worth $650 million and holding 173,700 ETH is DBS Bank, with total assets of S$739 billion as of December 31, 23. This address has earned more than $200 million by holding ETH.

DBS Bank is the largest commercial bank in Singapore, and its current largest controlling shareholder is Temasek Holdings Limited $ETH