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A wallet linked to U.S. rapper Kanye West withdrew 2,074 ETH worth $4.7 million from Binance shortly after withdrawals resumed. According to on-chain analyst ai_9684xtpa, the address has repeatedly expanded long positions by borrowing against its ETH collateral.
It was not confirmed whether the latest withdrawal was intended to increase those positions or simply move assets. After news of the Binance hack emerged on Oct. 30, the address sold 1,390 ETH on-chain to reduce liquidation risk. It is currently borrowing $27.71 million in stablecoins against a total of 21,109 ETH in collateral, with health factors of 1.44 and 1.62 across two collateral positions.