Uniswap Tokens worth $8.45m transferred by USV to Coinbase

Union Square Ventures transferred $578,000 of UNI tokens, worth approximately $8.45 million, to Coinbase Prime in the last nine hours.

This action is part of a broader trend of Uniswap (UNI) tokens sticking to USV earlier this month, as reported by Ember Scan. On December 19, the UTIMCO-backed venture capital firm transferred an additional 1.156 million UNI tokens to Coinbase Prime. The value of this token was approximately $17.34 million at an average price of $15.07 based on historical data.

USV 8 months ago Coinbase Prime 57.8 months ago $UNI ($8.45 million)

USV 12/6 开始将 2020 年通过投资获得的 UNI 转移至 Coinbase Prime ，目前在三周时间里累计转移了 351.1 UNI ($54.56 million), $15.53.

USV 地址还持有的 UNI 数量为 1036.4万枚 ($149.66 million)。… https://t.co/ULpXyrgLJb pic.twitter.com/o9uqdyj7Pd

— 余烬 (@EmberCN) December 25, 2024

On December 6, 2024, USV began moving their UNI tokens from the 2020 investment to Coinbase Prime. The venture capital firm transferred 3.511 million UNIs with a total value of $54.56 million in the last three weeks. The average price of transfer tokens here is $15.53.

4 days ago USV, Coinbase Prime price 115.6 points $UNI ($17.34 million)

USV 12/6 开始将 2020 年通过投资获得的 UNI 转移至 Coinbase Prime ，目前在两周时间里累计转移了 293.3 UNI ($46.11 million), $15.72.

USV 地址还持有的 UNI 数量为 1094.3万枚 ($160.75 million)。… https://t.co/8hUAdDDar8 pic.twitter.com/la7P7XOJxl

— 余烬 (@EmberCN) December 19, 2024

Even after these significant transfers, the USV-affiliated address still holds a fair number of UNI tokens. Currently the address still holds 10.364 million UNI, which is roughly equivalent to $149.66 million based on the current market price of $14.19.

The Series A investment round raised $11 million for Uniswap in 2020. Andreessen Horowitz led the round with the intense participation of major investors such as Version One, Parafi Capital, Variant, SV Angel and A. Capital, as well as Union Square Ventures. The capital raised was to facilitate the development and scaling of Uniswap’s non-custodial trading services.

As previously reported by Crypto.news, Uniswap also came to the attention of regulators when the Commodity Futures Trading Commission issued an order against Uniswap Labs on September 4, 2024, allowing illegal trading of digital asset derivatives. Under the terms of the settlement, Uniswap Labs was required to pay a $175,000 fine and stop violating the CEA.

USV appears to be going to various designated Coinbase accounts in preparation for liquidation, custody, or portfolio reallocation. Shifting funds to Coinbase Prime, a service designed specifically for institutional investors, signals a systematic approach to managing UNI assets.