A certain whale sold 40,000 ETH and bought PHA worth 2.18 million USD seven hours ago

Odaily Planet Daily reports that according to on-chain analyst Yu Jing, a whale/institution may have used part of the funds to purchase PHA after selling 40,000 ETH: 7 hours ago, they received 16.88 million PHA (worth $2.18 million) from FalconX. The last time they transferred 10,000 ETH into FalconX and only withdrew 19.49 million USDC from FalconX afterwards. The remaining portion of the funds might have been used to buy these 16.88 million PHA through FalconX.