is that a findable fact? i didn't think the chinese had gone in for eth in any way at all. they seem to like honest pow coins for their pumps and dumps. anyone who has that many must have a little bit of belief in there somewhere so a monster dump seems unlikely to me. whales are generally more subtle.
Chinese have always been so interested in pump and dump coins, don't you remember what they did to litecoin back before LTC halving?
they are anywhere that there is a profit to make.
and 416,000 ETH is nothing compared to what whales and those main ETH holders (vitalik and the gang) have in their pocket and have been controlling the price with.
Published on September 29, 2015 at 22:11 BST - http://www.coindesk.com/china-wanxiang-blockchain-50-million-fund/
During September 2015 ether price was ~2 dollars (if I'm not wrong). They are still in profit .