ETH Movement from ParaFi Capital to Coinbase Prime ParaFi Capital, a leading digital asset investment firm, has recently transferred 5,134 ETH (approximately $13.84 million) to Coinbase Prime, a prime brokerage and trading platform. The transaction was reported by Amberdata via Twitter, indicating that the ETH was moved approximately 5 hours ago. This ETH was originally redeemed by ParaFi Capital from EigenLayer, a decentralized derivatives exchange, where it had been deposited in December 2022 at a price of $2,175. The ETH was minted at that time. The reasons behind this transfer are not entirely clear, but it could be related to ParaFi Capital's trading strategies, risk management, or other operational considerations. The transfer suggests that ParaFi Capital is actively managing its crypto asset portfolio and may be seeking to optimize its positions or execute trades. About ParaFi Capital ParaFi Capital is a digital asset investment firm founded in 2018. The company manages over $1 billion in assets and provides a range of services, including venture capital, hedge fund management, and OTC trading. ParaFi Capital has a strong track record in the crypto industry and has invested in numerous successful blockchain projects. About Coinbase Prime Coinbase Prime is a prime brokerage and trading platform for institutional investors in the crypto market. The platform offers custody, trading, lending, and other services. Coinbase Prime is part of Coinbase Global, one of the largest and most reputable cryptocurrency exchanges in the world.