Paradigm Shifts $17 Million in ETH to Anchorage Digital

IconCryptoNewsTerminal Staff23 May, 2024

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Paradigm Shifts $17 Million in ETH to Anchorage Digital

Paradigm, a renowned cryptocurrency investment firm, has reportedly transferred approximately $17 million worth of ETH (4,535 ETH) to an address linked to Anchorage Digital, a regulated digital asset platform. This transaction was identified by Arkham Intelligence, a blockchain analytics provider. The transfer marks a significant movement of funds from an address associated with Paradigm, which had received a substantial amount of ETH less than a month prior. Following this latest transaction, the address now holds over $442 million in crypto assets, including 78,900 ETH and 70 million LDO tokens. This development highlights the ongoing activity within the cryptocurrency market, with institutional players like Paradigm making strategic transfers and managing their portfolios. Anchorage Digital, as a regulated custodian, provides secure storage and compliance solutions for digital assets, making it an attractive destination for large-scale transfers.

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