Multicoin moves 286,057 AAVE to Coinbase Prime after $40M loss
Multicoin Capital deposited 286,057 AAVE (about $26.7M) into Coinbase Prime on May 16 after its 338,005‑token position, bought for $73.7M, showed an unrealized loss above $40M.
On May 16, Multicoin Capital moved 286,057 AAVE tokens, worth about $26.7 million, into Coinbase Prime, according to on‑chain records.
Multicoin accumulated 338,005 AAVE between Oct. 13 and Nov. 25, 2025, routing purchases through Galaxy Digital’s over‑the‑counter desk. The fund spent about $73.7 million to build that position at an average price near $218 per token.
With AAVE trading around $88–$90, the original 338,005‑token position had a market value of roughly $31 million, creating an unrealized loss exceeding $40 million versus the purchase cost.
Earlier in May, Multicoin moved portions of the holding to Galaxy OTC wallets and to BitGo, reducing the balance to 286,057 tokens before the May 16 deposit. The remaining tokens were transferred to Coinbase Prime in a single on‑chain transaction.
Coinbase Prime offers custody, settlement and block‑trading tools for institutional clients. The 286,057‑token batch is large compared with AAVE’s average daily trading volume.
AAVE is the governance and fee‑sharing token of the Aave protocol, a decentralized finance lending platform ranked by total value locked. Bitcoin surpassed $100,000 in 2026. AAVE has traded roughly between $88 and $100 in recent weeks.
The Coinbase Prime deposit places Multicoin’s remaining AAVE under institutional custody and execution services that can be used for future transfers or sales.
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