POAP Founder Patricio Worthalter Sells 2,000 ETH After 2 Years for $8.85M, Nets $5.37M Profit While Retaining 41,135 ETH
ETH/USDT
$9,682,606,866.95
$1,779.90 / $1,702.00
Change: $77.90 (4.58%)
+0.0037%
Longs pay
COINOTAG reported on September 12 that, according to Onchain Lens monitoring, POAP founder Patricio Worthalter executed a disposition of 2,000 ETH at an average price near $4,423, with the transaction occurring roughly five hours prior to the report.
The on-chain swap converted the ETH proceeds into approximately 8.85 million USDC, representing a realized profit of $5.37 million after a two-year holding period, reflecting a strategic lock-in of gains and a shift toward stablecoin liquidity.
Post-sale balances show Worthalter retaining 41,135 ETH, with an implied market value of about $183.27 million at the time of reporting, underscoring continued significant exposure to Ether on his balance sheet.