$3.92 Million in Vested Tokens Flows into Coinbase Prime
Spartan Group, a Singapore-based crypto venture capital firm, has transferred cryptocurrencies worth approximately $3.92 million from one of its known wallet addresses to Coinbase Prime.
The move involved the full balance of three tokens: 2.045 million $PENDLE tokens valued at roughly $2.74 million, 5.377 million $SYRUP tokens worth about $860,000, and 813,000 $ETHFI tokens valued at approximately $320,000.
The transfer appears to be a full exit from this particular address, though the firm may hold other positions in these assets elsewhere.
According to blockchain analytics firm EmberCN, all three tokens were originally obtained through vesting contracts following Spartan Group's early-stage investments in the respective projects.
The move highlights the growing use of institutional custody solutions and the need for careful interpretation of wallet activity.