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Suspected SharpLink Associated Address Withdraws 52,809 ETH from Coinbase Prime, Equivalent to $220 Million

Summary: According to on-chain analyst Yu Jin, a new wallet withdrew 52,809 ETH ($220 million) from Coinbase Prime 10 hours ago, then distributed it to 8 wallets for Ethereum staking, one of which is a known address of SharpLink (SBET). SharpLink raised $200 million by selling stocks just last Friday, so it is likely they converted ...

According to on-chain analyst Yu Jin, a new wallet withdrew 52,809 ETH ($220 million) from Coinbase Prime 10 hours ago, then distributed it to 8 wallets for Ethereum staking, one of which is a known address of SharpLink (SBET). SharpLink raised $200 million by selling stocks just last Friday, so it is likely they converted these funds into ETH over the weekend.

SharpLink (SBET) currently holds approximately 621,000 ETH, worth $2.65 billion. The average purchase price is roughly $3,226.

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Link: Suspected SharpLink Associated Address Withdraws 52,809 ETH from Coinbase Prime, Equivalent to $220 Million [Copy]

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