Ethereum

Arbitrum

2024

Foundation

Spot

According to Spot on Chain, the Arbitrum foundation multi-signature address (0xd6c…) deposited 15 million ARB ($27.5 million) to Coinbase today at a price of $1.83. Shortly thereafter, six newly created wallets withdrew a total of 14.9 million ARB from Coinbase.
<h2 id="arbitrum-foundation-launches-significant-arb-transaction-on-coinbase">Arbitrum Foundation Launches Significant ARB Transaction on Coinbase</h2>
In a notable development reported by Spot on Chain, the Arbitrum Foundation executed a significant transaction involving the deposit and subsequent withdrawal of ARB tokens on the Coinbase platform.
The multi-signature address identified as 0xd6c…, affiliated with the Arbitrum Foundation, deposited 15 million ARB, equivalent to $27.5 million at the current price of $1.83.
Related News: <a href="https://en.bitcoinsistemi.com/two-new-altcoin-listing-announcements-from-bitcoin-exchange-bybit/" target="_blank" rel="noopener noreferrer nofollow">Two New Altcoin Listing Announcements from Bitcoin Exchange Bybit!</a>
<blockquote>
 The Series of Events Developed as Follows:
</blockquote>
Deposit: Arbitrum Foundation's multi-signature address deposited 15 million ARB to Coinbase.
Price at Deposit: The transaction was executed at a price of $1.83 per ARB.
Withdrawal: Following the deposit, the six newly created wallets processed withdrawals totaling ARB 14.9 million from Coinbase.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The <a href="https://twitter.com/arbitrum?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@arbitrum</a> Foundation multisign 0xd6c deposited 15M <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> ($27.5M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> at $1.83 ~6hrs ago.
 Then shortly afterward, six fresh wallets withdrew a total of 14.9M <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a> from the CEX.
 Was this an OTC deal? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;">
 For more updates on <a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ARB</a>, follow <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@spotonchain</a> and turn on your… <a href="https://t.co/4tj6y716He" rel="noopener noreferrer nofollow">pic.twitter.com/4tj6y716He</a>
 — Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1752165612141605374?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 30, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
While the details of the transaction remain intriguing, it is worth noting that this Arbitrum Foundation deposit could potentially be associated with over-the-counter (OTC) transactions.
OTC transactions generally occur outside of public exchanges and are characterized by personalized structures that meet the specific needs of large institutional organizations.
The importance of such transactions lies in their potential impact on the broader cryptocurrency market, as large asset movements can impact market dynamics.
The participation of the Arbitrum Foundation, known for its contributions to Ethereum scalability solutions, adds extra interest to this transaction.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/this-altcoin-foundation-transferred-a-large-amount-of-tokens-to-coinbase-exchange-here-are-the-details/" rel="noopener noreferrer nofollow">This Altcoin Foundation Transferred a Large Amount of Tokens to Coinbase Exchange! Here are the Details!</a>

This Altcoin Foundation Transferred a Large Amount of Tokens to Coinbase Exchange! Here are the Details!

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