Mass Transfer: 103,930,743 USDC Moved from Coinbase Prime

07 January, 2025, 03:30 PM

103,930,743 USDC, equivalent to roughly $100 million, was sent from a Coinbase Prime account to an anonymous wallet address on February 24th, 2023, according to Whale Alert. This noteworthy transaction has sparked discussions and speculation within the crypto community. The source of the USDC transfer was Coinbase Prime, a custodial service that provides institutional investors access to cryptocurrency markets. The destination address, however, belongs to an anonymous wallet, raising questions about the nature of the transaction. The movement of such a substantial amount of USDC has attracted attention due to its potential impact on the cryptocurrency market. Stablecoins like USDC are often used as a haven during market volatility, and large transactions involving them can influence price movements.