$50M
Ethena: Coinbase Prime Custody
0x2d4d2a025b10c09bdbd794b4fce4f7ea8c7d7bb4
➔
Paxos Deposit
0x22fde59d76c16acc6597c3ceded31600aa8b470d
Stablecoins leaving exchange, near-term deployable liquidity may decline. $50M USDC moved from Ethena: Coinbase Prime Custody to Paxos Deposit on Ethereum. Repeated stablecoin outflows can reduce exchange-side dollar liquidity and immediate buying power available for fast market rotation. High priority whale flow: useful for immediate risk monitoring.