Prince Group Chairman’s Wallets Move After Three Years of Inactivity – 15,965 BTC Linked

A significant shift occurred on October 22nd as 15,965 BTC connected to Prince Group Chairman Chen Zhi were moved for the first time in three years. These wallets have been dormant since 2022 and are currently under sanctions. This unusual activity has drawn attention from market analysts who speculate on possible reasons behind the reactivation, such as internal asset restructuring or risk management actions taken in response to regulatory pressure. It’s important to note that these wallets are not linked to the 127,000 BTC seized by U.S. authorities in separate investigations related to criminal and fraud activities. This transfer adds to the growing trend of previously dormant Bitcoin addresses becoming active again, coinciding with increased market volatility, particularly in the Bitcoin price. This movement could signal a potential shift in the dynamics of the cryptocurrency market.