Ethereum Whale Withdraws $35.26 Million from Coinbase, Facing $82.61 Million Debt in ETH

On May 16th, COINOTAG reported a significant movement in the cryptocurrency market, highlighting an activity from a prominent whale address. This address withdrew 13,800 ETH from Coinbase, a transaction valued at approximately $35.26 million. Notably, this withdrawal was coupled with the repayment of ETH that had been borrowed using cbBTC. Despite this repayment, the whale still retains an outstanding obligation of 32,377.6 ETH, equating to around $82.61 million. These transactions underscore the continuing volatility in the crypto space and the strategic maneuvers of high-value investors—an important development for analysts monitoring market trends and liquidity shifts.