Easy whale falls, all things are born.
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🔪Foreign investors, Ethereum whale and institutions deposited their holdings into Tom Lee's public Bitmine address, "pretending" that Bitmine (BMNR) had purchased them [on-chain]; the whales then received the corresponding BMNR shares, which Kuku cashed out and sold off [off-chain].
While Tom Lee was instilling faith in retail investors, claiming he had lost a lot of money and was in dire straits, he was simultaneously using various creative methods to cash out through OTC stock pledging.