According to @OnchainDataNerd, 3 hours ago, Elwood received 52 million USDC from Circle. Subsequently, Elwood deposited all the USDC into Binance and swapped it into USDT. This transaction could indicate a strategic move or a shift in liquidity preference.

According to Lookonchain, three wallets associated with Elwood have deposited 19,500 ETH, valued at $63.66 million, to Binance over the past two days. These wallets have a history of depositing ETH to Binance before significant price crashes, suggesting a potential link to the recent price drop.