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According to a report by Jinse Finance, Onchain Lens monitoring shows that newly created wallets are accumulating large amounts of Ethereum (ETH). The address starting with 0x86F received 15,000 ETH from FalconX, valued at approximately $55.91 million. This wallet currently holds a total of 39,294 ETH, worth about $146.45 million. The address starting with 0x55C received 9,968 ETH from Galaxy Digital, valued at around $37.12 million.

According to a report by Jinse Finance, Elon Musk’s role as head of the “Department of Government Efficiency” appears to have taken a greater toll on his wealth than expected. Citing the Bloomberg Billionaires Index, Musk’s fortune has shrunk by more than $75 billion so far this year, with his net worth dropping to around $357 billion—well below the peak of over $450 billion at the end of 2024. The decline is mainly due to the performance of his 13% stake in Tesla, whose share price has fallen nearly 20% this year. Musk’s lead as the world’s richest person is being eroded by rivals: Oracle founder Larry Ellison and Meta CEO Mark Zuckerberg are closing in. Currently, the gap between Musk and Ellison’s net worth is only about $54 billion. Oracle has seen explosive growth thanks to its AI strategy and cloud computing business, with its stock price surging more than 50% this year, rapidly boosting Ellison’s wealth. If this trend continues, Musk is highly likely to lose his title as the world’s richest person before the end of the year. (Jin10)