Today in Crypto: Multicoin Capital Sends Entire AAVE Stack to Coinbase Prime After $40M Loss Deepens

According to recent market coverage, multicoin Capital has moved all 286,057 of its remaining aave tokens, worth approximately $26.68 million, into Coinbase Prime, the clearest signal yet that the fund is exiting a position sitting on over $40 million in losses.

Key TakeawaysMulticoin Capital deposited all 286,057 AAVE tokens ($26.68M) into Coinbase Prime on May 16.The fund bought 338,005 AAVE at an average of $218 per token in late 2025, now down nearly 60% to $88.Coinbase Prime deposits by institutional funds historically tend to precede large structured OTC exits.

Onchain data shows Multicoin Capital transferring its entire remaining Aave (AAVE) position of 286,057 tokens into Coinbase Prime.

At AAVE’s current price of approximately $89, the batch is worth roughly $26 million.

The move comes after what has become one of the more costly public trades of the current cycle for a major crypto fund.

As Bitcoin.com News previously reported, Multicoin Capital accumulated 338,005 AAVE tokens between October 13 and November 25, 2025, routing purchases through Galaxy Digital’s over-the-counter (OTC) desk.

The fund spent approximately $73.7 million to build the position at an average price of $218 per token.

Aave (AAVE) is the governance and fee-sharing token of the Aave protocol, the largest decentralized finance ( DeFi) lending platform by total value locked.