PANews reported on April 21 that, according to on-chain analyst Yu Jin, a "whale/institution" that spent $500 million to buy BTC and ETH in early February transferred its last 2,000 cbBTC ($151 million) to Coinbase in the early morning. The whale/institution that bought 4,000 cbBTC in early February had an average cost of $73,837 and has now transferred them all to Coinbase at an average price of $75,181, making a profit of $5.37 million.