$785 million in ETH were transferred to the Coinbase exchange

An unknown user made three transactions of 150 000 ETH

14.06.2023 - 08:15

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2 min

What’s new? On June 14, $785 million in Ethereum cryptocurrency was transferred to the Coinbase exchange. A total of 450 000 ETH was transferred by an unknown user in three transactions of 150 000 ETH. The fee for each transaction was $0,72. This is evidenced by the GetBlock blockchain explorer.

Transaction #1

Transaction #2

Transaction #3

What else is known? The transactions were conducted from three different wallets at the same time. In this, all of the coins were received by the user on December 1, 2018. Each of the wallets accepted 4 transactions for 37 500 ETH at that time. Back then, the price of the coin was about $150. As of June 14, ETH USDT is trading at $1740, with the price of the asset down by 0,5% in the last 24 hours.

Coinbase situation. On June 6, the US Securities and Exchange Commission (SEC) filed a lawsuit against the exchange for offering unregistered securities. The regulator also argued that the platform has never registered as a broker, national securities exchange, or clearing agency.

The exchange’s CEO Brian Armstrong expressed confidence that Coinbase would win the case in court and emphasized that the platform has more than $5 billion in its balance sheet to support ongoing operations and to cover legal costs.

At the same time, documents published by the SEC show that exactly one day before filing a lawsuit, Armstrong sold 29 730 shares of the company.

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