Lighter Moves $32.05M in USDC, Redeploys $8.6M (Including $7.5M to LLP) and Sends $21.9M to Coinbase Custody
LIT/USDT
$31,604,448.67
$1.728 / $1.602
Change: $0.1260 (7.87%)
+0.0034%
Longs pay
COINOTAG News, citing MLM Monitor, reports that Lighter has withdrawn 32.05 million USDC from the platform to its treasury address, leaving about 100,000 USDC in the platform-fee wallet.
Of the 32.05 million, about 8.6 million has been redeposited into Lighter since October 16, with roughly 7.5 million entering the LLP, reflecting fees returned to holders.
The pattern appears unusual and is not disclosed in public documents, representing roughly 25% of reported revenue redirected to this flow.
The remaining ~21.9 million USDC was moved to a Coinbase custody address. Lighter notes the treasury address is hard-coded as account 0 and can be changed through the contract mechanism.