The Ethereum OG address holding 736,000 ETH deposited 500 million USDT ahead of the stable announcement

ChainCatcher news, according to Lookonchain monitoring, an Ethereum OG holding 736,000 ETH (worth $2.89 billion) deposited 500 million USDT into its treasury before the announcement of the stable pre-deposit activity. This OG borrowed the USDT by collateralizing 300,000 ETH on Aave.

Previously, after the stablecoin Layer 1 project Stable announced the first phase of the pre-deposit activity, the $825 million quota was sold out in seconds, raising community questions about its "front-running" operations. Upon verification, the official announcement was made at 9:10 AM Beijing time, and on-chain data shows that the first deposit was made at 8:48 AM, roughly estimating that over 70% of the deposits were made before the announcement.