Ethereum Moved to New Unverified Wallet from Coinbase Institutional Account

Coinbase's institutional account moved 35,565 Ethereum tokens to a new unverified wallet, according to a post. The value of this amount is displayed as $87,895,321 (approximately 12.04 billion won). Whale Alert X reported on July 17 that the transaction occurred on the Ethereum network. The purpose of the transaction and the owner of the receiving wallet were not disclosed in the post.