The friend.tech protocol fee receiving address transferred 7821 ETH to Coinbase 4 hours ago, equivalent to approximately US$16.94 million.

According to on-chain analyst Yu Jin, on December 3, the fee receiving address (0xdd9) of friend.tech protocol transferred 7821 ETH (worth $16.94 million) to Coinbase 4 hours ago.

As previously reported by BlockBeats, on December 3 at 8am, friend.tech announced on social media that they had completed an on-chain transaction, transferring ownership of the friend.tech contract and funds to a new combination of multi-signature and professional custody. This will improve the long-term security of friend.tech and allow them to fulfill tax obligations.