Cumberland continues Ethereum buying spree with $31M withdrawal from Coinbase
Crypto Briefing
Cumberland, the crypto arm of DRW Holdings, withdrew $31 million in Ethereum from Coinbase amid market volatility.Summary
Cumberland, the crypto trading division of DRW Holdings, continued its accumulation of digital assets by withdrawing approximately $31 million (14,800 ETH) from Coinbase on Friday, following a nearly $100 million withdrawal the previous day from Coinbase, Binance, and Copper. The Cumberland-labeled wallet now holds nearly 457,000 ETH, valued at over $940 million. Ethereum remains a key focus for institutional investors due to its extensive decentralized application ecosystem, staking yield potential, and utility as collateral, appealing to portfolios seeking exposure beyond Bitcoin. Cumberland has been an early institutional player in the crypto space since establishing its division in 2014.
(Source：Crypto Briefing)