According to TechFlow, based on Ember data analysis, the friend.tech project team transferred a total of 19,477 ETH to Coinbase between December 2023 and June 2024. If all are sold, it is expected to cash out about US$52.4 million.
Specifically, Friend Tech's Fees address transferred 7,821 ETH (approximately US$16.85 million) to Coinbase in December 2023; its Gnosis Safe Proxy address transferred 11,656 ETH (approximately US$35.55 million) to Coinbase between January and June 2024.
These fund transfers occurred after the Friend Tech team gave up control of the contract, sparking community speculation that the project was conducting a "soft exit."
Previous news, data: Friend.tech has earned a total profit of US$44.62 million since its launch.
