He Yi: Most large transfers are from Binance cold wallets to new hot wallets.

on November 1, according to Binance co-founder He Yi, most of the large transfers were transferred from Binance's cold wallet to Binance's new hot wallet.

He Yi was responding to a query from X user yurihanachan98 regarding several large transfers. The user had asked under another user's post discussing Binance's large transfers which whales were involved in these transfers worth hundreds of millions of dollars.