Spartan Group Unloads $3.92M in DeFi Tokens to Coinbase Prime

Singapore-based crypto venture capital firm Spartan Group has transferred $3.92 million worth of vested tokens to Coinbase Prime, according to on-chain data from EmberCN.

The transfer involved three tokens: PENDLE, SYRUP, and ETHFI, which were obtained through vesting contracts following Spartan Group's early-stage investments in the respective projects.

On-chain analytics firm EmberCN reports that 2.045 million PENDLE tokens valued at $2.74 million, 5.377 million SYRUP tokens worth approximately $860,000, and 813,000 ETHFI tokens valued at about $320,000 were sent to Coinbase Prime.

The transfer appears to be a full exit from this particular address, though the firm may hold other positions in these assets elsewhere.