Ethena Founder: The token transfer of a large investor is not a sell-off, but a security precaution for hardware wallets

The Synthetic Dollar Agreement's founder and CEO of Ethena, Guy Young, stated that users have noticed a large investor wallet transferring tokens in the past 48 hours. He confirmed that the related transfers are a security precaution related to recent concerns about hardware wallets and do not indicate that the tokens are being sold after being transferred.

Guy Young made the above statement on X in response to the community's concerns about the on-chain movements of large wallets. He emphasized that the related operations are precautionary arrangements taken for security reasons and do not represent that investors are selling their held tokens.