Metaplanet deposits $237M in BTC to Coinbase Prime over 24 hours

Metaplanet deposited 3,000 BTC worth $237 million to Coinbase over the past 24 hours, according to Lookonchain. While exchange deposits are typically interpreted as a sign of potential selling, Coinbase Prime is a prime brokerage platform that provides trading, custody and financing services for institutional investors, suggesting the transfer may have served other purposes as well.