IOSG Ventures-linked wallet deposits $11.5M in UNI, COMP to Binance

A wallet associated with research-focused Web3 investment firm IOSG Ventures has deposited UNI worth $9.23 million and COMP worth $2.30 million to Binance, according to an analysis by Onchain Lens. The same address previously withdrew 5.41 million UNI, then worth approximately $51.53 million, and 228,704 COMP, worth approximately $11.29 million, from the exchange about 10 months ago. Following today's deposit, the address still holds 2.7 million UNI and 114,352 COMP. Deposits to exchanges are typically interpreted as an intent to sell. If the assets were sold upon deposit, the address would have realized a loss of approximately $39.76 million.