Suspected SharpLink Associated Address Withdraws 52,809 ETH from Coinbase Prime, Equivalent to Approximately $220 Million

By: theblockbeats.news|2025/08/11 01:11:30

BlockBeats News, August 11th, according to on-chain analyst Yu Jin monitoring, 10 hours ago, a newly created wallet withdrew 52,809 ETH ($220 million) from Coinbase Prime, and then distributed it to 8 wallets for Ethereum staking, one of which is the known address of SharpLink (SBET). Last Friday, SharpLink sold shares to raise $200 million, so it is very likely that they converted these funds into ETH over the weekend.

SharpLink (SBET) currently holds a latest ETH balance of around 621,000 ETH, worth $2.65 billion. The average purchase price is roughly $3,226.

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