PANews reported on May 16 that according to Spot On Chain, an address associated with the Compound team deposited 250,100 COMP (approximately US$11.2 million) into Coinbase Prime in the past 3 hours.

This is the first time the address has transferred COMP assets in 9 months, after it redeemed 398,100 COMP (about US$17.7 million) from Compound V3.

The address currently still holds 148,032 COMP (approximately US$6.58 million).