Multicoin Capital releases pledge and receives HYPE, transferring $5.6 million to Coinbase

According to Onchain Lens monitoring, Multicoin Capital received 1.29 million HYPEs worth $71.1 million from Hyperliquid after the release of the pledge. Multicoin Capital transferred 101300 HYPEs worth $5.6 million to Coinbase. Hyperliquid needs to wait for 7 days to transfer tokens from the pledged balance back to the spot balance.