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DARMA Capital Co-Founder Moves 60,000 ETH to Coinbase After 5-Year Staking

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ETH news: According to Odaily, encrypted analyst EmberCN tracked a 60,000 ETH transfer to Coinbase following redemption from staking. The assets are valued at approximately $129 million and may belong to DARMA Capital co-founder Andrew Keys. Chain data shows Keys staked 90,000 ETH in May 2021. Over five years, he earned 16,000 ETH, resulting in an 18% return worth $34.2 million. ETH update: This movement represents a major liquidity event after a long-term staking period.

Odaily Planet Daily reports, according to crypto analyst Ember@EmberCN, approximately 60,000 ETH, withdrawn from Ethereum staking three hours ago, were transferred to Coinbase, valued at around $129 million. These assets may belong to Andrew Keys, co-founder of DARMA Capital.

On-chain data shows that in May 2021, it deposited approximately 90,000 ETH in batches for staking, and recently withdrew and consolidated these funds in a concentrated manner. Over the approximately five-year staking period, it accumulated around 16,000 ETH in rewards, representing a coin-based return of about 18%, with a current value of approximately $34.2 million.

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