Compound team associated address deposits 250,000 COMP into CoinbasePrime in the past 3 hours

BlockBeats news, on May 16, according to Spot on Chain monitoring, a wallet address associated with the Compound team deposited 250,100 COMP (approximately $11.2 million) into CoinbasePrime in the past 3 hours.

Previously, this wallet redeemed 398,100 COMP (approximately $17.7 million) from CompoundV3 — the first transfer of COMP from this wallet in 9 months. The wallet currently still holds 148,032 COMP (approximately $6.58 million).