Ethena recently transferred 81.97 million USDC held in custody at Coinbase Prime to FalconX, according to monitoring cited by Techub and attributed to @OnchainLens. The move was described as potentially linked to an over-the-counter, or OTC, sale. Ethena is the issuer of the USDe stablecoin, and the report said the transfer may relate to treasury management or institutional trading needs. FalconX, for its part, is an institutional digital asset trading platform that is often used to execute large OTC transactions. No additional details on the transaction terms, counterparties, or timing beyond 「recently」 were disclosed in the source item.
Ethena recently moved 81.97 million USDC that had been held in custody at Coinbase Prime to FalconX, according to Techub, citing monitoring by @OnchainLens. The transfer was described as a suspected over-the-counter, or OTC, sale.
Ethena is the issuer of the USDe stablecoin. The source item said the fund movement may be tied to treasury management or institutional trading needs. FalconX is an institutional digital asset trading platform and is often used as a venue for large OTC trades.
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