Address linked to Yuga Labs co-founder withdraws $5.9M in HYPE from Coinbase

An address believed to belong to Yuga Labs co-founder Bizyugo has withdrawn 100,000 HYPE, worth approximately $5.9 million, from Coinbase, Onchain Lens reported. Withdrawals from exchanges are generally seen as a signal of intent to hold. Bizyugo is one of the co-founders of Yuga Labs, the developer of the NFT project Bored Ape Yacht Club (BAYC).