Multicoin Capital transferred $5.6 million to Coinbase after the release of $71.1 million

On 29 July, according to Onchain Lens monitoring, Multicoin Capital received 1.29 million HYPEs, or approximately $71.1 million, from Hyperliquid after having previously released its pledge. Multicoin Capital then transferred 10.13 million HYPEs to Coinbase, about $5.6 million. Hyperliquid waits seven days to transfer the token from the pledge to the current balance。