Metaplanet Mysterious $79M Bitcoin Transfer to Coinbase Prime

Metaplanet transferred 1,000 BTC worth approximately $79.77 million to Coinbase Prime on August 25, according to blockchain analytics platform Lookonchain.

The transaction was classified as a deposit to Coinbase Prime, which offers trading, financing, and custody services. However, it is unclear if the transfer is related to a sale or other activities such as custody management or collateral arrangements.

Metaplanet had faced similar speculation in early August when they transferred 5,014 BTC between custodial addresses. The company's CEO, Simon Gerovich, stated that no Bitcoin had been sold during the movement at the time.