Chun Wang Returns to Ethereum After Weeklong Bitcoin-to-ETH Trade
F2Pool co-founder Chun Wang deployed $10.78 million to repurchase 5,246 ETH and stake most of it through Lido, one week after selling ETH near $2,400.
F2Pool co-founder Chun Wang deployed $10.78 million to repurchase 5,246 ETH and stake most of it through Lido, one week after selling ETH near $2,400. Bitcoin (BTC) is trading at $70,813.00, down 2.2% since this brief published. This is an original TLT brief based on reporting by U.Today, with live market data added, as of Fri, 13 Nov 2026 00:45:04 UTC.
The transaction puts substantial Ether capital back into Ethereum staking and Lido while the asset and broader crypto market remain under pressure. It also shows how one prominent mining-industry figure is repositioning amid a downturn.
- Wang spent $10.78 million to buy 5,246 ETH
- Most of the repurchased ETH was staked through Lido
- The trade followed an ETH sale near $2,400 one week earlier
- ETH fell 16% over seven days to $2,009.92
- Zcash Selloff Draws Attention as Bitcoin and Ethereum Trade Muted
- Chun Wang Returns to Ethereum After Weeklong Bitcoin-to-ETH Trade — this brief
F2Pool co-founder Chun Wang spent $10.78 million to repurchase 5,246 ETH roughly one week after selling at a reported price of $2,400, according to U.Today. The purchase equates to an average cost of about $2,055 per ETH, representing a roughly 14% discount to the referenced sale price. Wang said he would stake most of the acquired Ether through Lido. This account comes from a single outlet, U.Today, with no additional reporting supplied to corroborate the transaction or the intended staking allocation. The on-chain data independently confirms that Lido currently holds $19.92 billion in total value locked, although it does not verify Wang’s purchase amount or staking balance.
The reversal is notable because it connects the 
Bitcoin mining industry with 
Ethereum’s staking ecosystem. Wang, identified as F2Pool’s co-founder, moved capital back into Ether after the reported sale and chose to deploy most of the repurchase through one of the largest staking platforms. Meanwhile, Bitcoin network hashrate stands at 946 EH/s and mining difficulty is 148.4 trillion, according to mempool.space.
Market conditions remained weak around the transaction. Ethereum was priced at $2,009.92, down 2.37% over 24 hours and 16% over seven days, while its market capitalization was $245.67 billion. Bitcoin traded at $72,436, down 1.89% over 24 hours and 9.05% over seven days, with a $1.46 trillion market capitalization.
The broader crypto market capitalization was $2.47 trillion amid a broadly declining session, and the Fear & Greed Index stood at 28, indicating fear. The immediate numbers to monitor are ETH’s ability to hold its current level, Lido’s TVL following its 15.4% seven-day decline, and the amount of Wang’s newly purchased Ether that is ultimately staked through Lido.
Since this brief published about 12 hours ago, Bitcoin (BTC) has moved from $72,436.00 to $70,813.00 — -2.24%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin reach $95,000 by December 31, 2026?
Crowd-implied probability on Polymarket, $69.53K 24h volume, resolves Jan 1 — snapshotted when this brief published (Nov 12 14:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by TLT and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₦99.63M (about $70,813.00), down 4.3% over 24 hours. The naira itself trades about 4.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · November 12, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Chun Wang Returns to Ethereum After Weeklong Bitcoin-to-ETH — questions & answers
How much did Chun Wang spend repurchasing ETH?
Wang spent $10.78 million to buy 5,246 ETH, averaging about $2,055 per coin.
What did Wang do with most of the repurchased ETH?
He said he would stake most of it through Lido, though the exact amount was not specified.
How large is Lido’s current value locked?
DeFiLlama reports Lido TVL of $19.92 billion, down 15.4% over seven days.
How much is 1 Bitcoin worth in naira today?
About ₦99.63M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $70,813.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 2.24% since this brief first published — trading at $70,813.00 now versus $72,436.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from U.Today. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.