Paradigm Capital Transfers $130 Million in ETH to Anchorage Digital

IconCryptoNewsTerminal Staff30 Jul, 2024

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Paradigm Capital Transfers $130 Million in ETH to Anchorage Digital

Paradigm Capital, a leading venture capital firm investing in cryptocurrencies and blockchain companies, has transferred 39,068 ETH (approximately $129 million) to Anchorage Digital, a regulated digital asset custodian. The transaction was identified by on-chain data analytics platform Spot On Chain, which analyzed the movement of funds from an address "likely owned by Paradigm Capital." The transfer, which occurred eight hours prior to the analysis, represents the largest such movement from the address in the past three months. Following the transfer, the Paradigm Capital-linked address currently holds approximately 8,373 ETH, valued at around $27.5 million. This development underscores the growing institutional adoption of cryptocurrencies, as major players in the financial industry continue to explore and allocate funds to this emerging asset class. Anchorage Digital's role as a trusted custodian provides institutional investors with a secure and compliant platform for storing and managing their digital assets.

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