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Union Square Ventures Transfers 578,000 UNI Tokens to Coinbase Prime

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by A1

12 hours ago


Union Square Ventures (USV) continues to transfer Uniswap (UNI) tokens to the Coinbase Prime platform. Over the past nine hours, the company has transferred 578,000 UNI tokens valued at approximately $8.45 million.

Trend of UNI Token Transfers

Transfers to Coinbase Prime have become part of a broader trend involving the movement of UNI tokens associated with USV. Since December 6, 2024, the company has been moving UNI from its 2020 investments. A total of 3.511 million tokens, equivalent to $54.56 million, have been transferred over three weeks, at an average price of $15.53.

USV Transaction History

On December 19, 2024, Union Square Ventures moved an additional 1.156 million UNI to Coinbase Prime, equal to $17.34 million. Despite significant transfers, the USV address still retains 10.364 million UNI tokens, valued at $149.66 million at the current price of $14.19.

Notable Investments and Regulations

In 2020, Uniswap raised $11 million in a Series A funding round led by Andreessen Horowitz. Other investors included Version One, Parafi Capital, Variant, among others, along with Union Square Ventures. The aim was to develop and scale Uniswap's non-custodial trading services. In September 2024, the Commodity Futures Trading Commission (CFTC) filed an action against Uniswap Labs for illegal derivatives trading. As part of the settlement, Uniswap Labs agreed to pay a $175,000 fine and cease violations.

The ongoing transfer of UNI tokens to Coinbase Prime indicates USV's systematic approach to managing its assets maybe in preparation for liquidation, storage, or portfolio reallocation.

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