Coinbase Whale Executes $35 Million Ethereum Withdrawal and Loan Repayment

A significant Ethereum (ETH) transaction has emerged from Coinbase, with an unidentified wallet withdrawing a substantial 13,800 ETH worth approximately $35.26 million. Following this move, the same address partially repaid an outstanding ETH loan on Aave. The funds were used to repay variable-rate Ethereum debt borrowed against cBTC, a form of Bitcoin wrapped within Coinbase’s platform. This repayment involved burning 13,750 ETH of the loan token and sending the remaining 13,800 ETH back to Aave’s lending pool.