Lookonchain Says BlackRock-Linked Address Sent 47,728 ETH and 544 BTC to Coinbase Prime
According to the new report, BlackRock moved about $140 million in ETH and BTC to Coinbase Prime on March 20 as crypto markets faced elevated leverage and nearby liquidation levels.
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Fact Check
The claim is verified by primary on-chain data from Lookonchain (https://x.com/lookonchain/status/2034940940973150671) and corroborated by multiple reputable crypto news outlets including crypto.news and Odaily. All sources report the exact same figures (47,728 ETH and 544 BTC) and the same destination (Coinbase Prime) on the specified date.
Summary
A BlackRock-linked address reportedly transferred 47,728 ETH and 544 BTC, worth about $140 million, to Coinbase Prime on March 20. The new report keeps the previously cited token amounts and approximate valuation, while adding that the transfers occurred amid heavily leveraged market conditions and looming liquidation levels. No official explanation for the purpose of the deposits was provided in the source content.
Terms & Concepts
- Coinbase Prime: An institutional crypto brokerage and custody platform used by large investors and companies.
- ETH: The native cryptocurrency of the Ethereum blockchain, used for network transactions and other blockchain activity.
- BTC: The native cryptocurrency of the Bitcoin network and the largest digital asset by market value.