A crypto whale that amassed $62.83 million worth of Uniswap and Compound governance tokens in July 2025 has started selling at heavily discounted prices, with losses of more than $39.7 million and about half of the original position yet to be extinguished.
Key Takeaways:
- Wallet 0xfa93 unloads 5.41 million $UNI and 228,704 $COMP purchased for $62.83 million in July 2025, down from $39.7 million.
- The whale dropped off 2.705 million people $UNI ($9.23 million) and 114,352 $COMP ($2.31 million) in Binance on May 25, 2026.
- $UNI is trading around $3.40 today, roughly 64% below the Whale’s $9.52 entry price of 10 months ago.
A $62 million bet that went wrong
In July 2025, a wallet identified as 0xfa93 made a concentrated bet on two of decentralized finance (DeFi)’s most established governance tokens. First, the wallet collected 5.41 million $UNIthe governance token of Uniswap, the largest decentralized exchange by trading volume (with approximately $9.52 per token and expenditure of approximately $51.53 million).
It then bought 228,704 $COMPthe Compound lending protocol’s governance token, valued at approximately $49.41 per token, issuing another $11.30 million and bringing the total spend to $62.83 million.
However, just ten months later, the position has gone deep, with onchain data showing the wallet is capitulating. Earlier today it deposited 2.705 million euros $UNI worth $9.23 million and 114,352 $COMP worth $2.31 million in Binance. $UNI is down about 64% from the trader’s $9.52 entry to about $3.36 today, while $COMP has lost about 59% from $49.41 to about $20.21. The combined loss on the entire position is over $39.7 million.
The Binance deposits represent about half of the original holdings, meaning the remaining lot could follow in the near future. Furthermore, exchange deposits of this size are widely interpreted as a sign of potential open market sales rather than custodial transfers, especially considering that Binance is the world’s largest spot trading platform.
DeFi Governance Tokens Remain Under Pressure
Uniswap remains the dominant decentralized exchange by volume, and its ‘UNIfication’ governance proposal, approved in December 2025, triggered a fee change that redirects a portion of trading fees to share buybacks and burns. $UNI tokens.
Despite this structural support, $UNI has traded below $4 for most of 2026, a fraction of its 2021 highs above $40. Compound has faced increasing competition from Aave and newer lending platforms $COMP has therefore remained persistently weak.
Additional data provided by popular crypto sleuth @ai_9684xtpa ssuggests the wallet can have connections to IOSG Ventures, a leading crypto venture capital firm. That said, this attribution has not been independently confirmed.
When deep-pocketed early buyers lose patience and start selling, it could put continued downward pressure on already weakened assets. Whether wallet 0xfa93 clears the entire remaining position will become apparent in the coming days.