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a16z Moves $13.75M in Compound to Coinbase — Sell-Off Incoming?

  • a16z-linked wallets transferred 300,000 COMP tokens worth $13.75 million to Coinbase Prime, signaling a potential liquidation.
  • a16z, an early investor in Compound, originally received 1 million COMP tokens in 2020 and still holds 500,000 COMP valued at $22.9 million.
  • Apart from Compound, a16z's crypto portfolio is mainly dominated by assets like Uniswap ($428 million) and Optimism ($10.5 million), with minimal exposure to Ethereum.
  • The move raises questions about potential profit-taking, rebalancing, or strategic shifts in a16z's crypto holdings, drawing attention from investors.

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