Whale wallet receives $375M in stablecoins: Biggest direct on-chain investment yet?

Source Cryptopolitan

One whale wallet received $375M in stablecoins from top crypto companies, originating from some of the biggest crypto holders and influencers. The receiver reportedly performed one of the biggest direct on-chain raises. 

A mysterious new wallet received $375M in stablecoins within just a few hours. The entity, still unnamed by Arkham Intelligence, kept receiving funds from exchanges, as low as 20 USDT from the Binance hot wallet. The biggest single transaction was for 3M from the Mantle Eco Fund, followed by 2.8M USDT from Coinbase Prime.

The inflow of stablecoins on the Ethereum chain also suggests the potential for financing another ETH treasury company. Hours after the inflows, the stablecoins were not swapped or moved.

The entity has received inflows from Coinbase Prime, the Mantle Eco Fund, as well as individual crypto investors. On-chain investigators identified inflows from Galaxy Digital, Josh Fraser, and Robert Leshner. Hypersphere Ventures is also among the investors. 

The entity that raised the large-scale sum is still not identified, as a publicity unveiling may be coming. Speculations include Sharplink Gaming or Plasma. SharpLink remains probable, since Hypersphere Ventures participated in the post-ICO raise for the company, for a total of $425M. 

Crypto companies shift to private rounds

The direct inflow of stablecoins into wallets coincides with the trend of undisclosed rounds. Currently, there are no known deals of this size. 

The direct on-chain inflows ranged between large-scale sums and transfers of 10-20 USDT. At this point, fundraising for crypto companies switched back to the IPO model, expecting significant rounds in 2025. 

Fundraising rounds currently use available reserves and involve vetted, later-stage companies, instead of early-stage crypto startups. 

Is on-chain fundraising coming? 

The recent transaction showed crypto reserves could be raised within hours. While the event remains anonymous and unannounced, it coincides with a recent expectation for an easier fundraising process. 

At this point, the raise for $375M is unprecedented and almost matches some of the biggest ICOs. 

The raise follows a recent statement by SEC Chairman Paul Atkins on the ability to raise funds on-chain without additional regulatory weight. 

We must ensure that entrepreneurs can raise capital on-chain without endless legal uncertainty. And we must allow for “super-app” trading platform innovation that increases choice for market participants,’ said Atkins at the Inaugural OECD Roundtable on Global Financial Markets.

Currently, permissionless raises still exist, but the scale of tapping some of the biggest investors remains unprecedented. 

Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
MicroStrategy Shares are Performing Better than Bitcoin In 2026, But How?MicroStrategy stock is up nearly 3% at press time, trading above $137 as markets opened on March 9. Strategy just announced another 17,994 BTC purchase for $1.28 billion.The stock trades 57% lower ove
Author  Beincrypto
Mar 10, Tue
MicroStrategy stock is up nearly 3% at press time, trading above $137 as markets opened on March 9. Strategy just announced another 17,994 BTC purchase for $1.28 billion.The stock trades 57% lower ove
placeholder
What to Expect From NVIDIA Stock Price in April 2026?NVIDIA (NASDAQ: NVDA) stock price trades at $177.64 on the 2-day chart, up 5.31% over the past days but still down 6% year-to-date. April sits at a unique inflection for the stock. The Iran conflict c
Author  Beincrypto
Apr 08, Wed
NVIDIA (NASDAQ: NVDA) stock price trades at $177.64 on the 2-day chart, up 5.31% over the past days but still down 6% year-to-date. April sits at a unique inflection for the stock. The Iran conflict c
placeholder
Strategy Buys $1 Billion in Bitcoin, Now Holds 780,897 BTCStrategy has acquired 13,927 Bitcoin for approximately $1 billion, pushing its total holdings to 780,897 BTC and cementing its position as the largest corporate Bitcoin holder in the world.The purchas
Author  Beincrypto
Apr 14, Tue
Strategy has acquired 13,927 Bitcoin for approximately $1 billion, pushing its total holdings to 780,897 BTC and cementing its position as the largest corporate Bitcoin holder in the world.The purchas
placeholder
Bitcoin’s Biggest Problem Right Now Isn’t the Market, It’s Its Own HoldersBitcoin’s (BTC) price trajectory has largely been positive since the US-Iran war, though it has also been volatile. On April 14, BTC briefly climbed above $76,000, its highest price level since early
Author  Beincrypto
6 hours ago
Bitcoin’s (BTC) price trajectory has largely been positive since the US-Iran war, though it has also been volatile. On April 14, BTC briefly climbed above $76,000, its highest price level since early
placeholder
Gold’s 18% Rally Faces a Volume Crisis, a Strong Rival, and a Wall of PutsGold (XAU/USD) price trades at $4,824, up 18% from its March 23 low of $4,097. The metal is pushing toward the upper trendline of a falling channel that has held since January 29.Yet the rally has thr
Author  Beincrypto
6 hours ago
Gold (XAU/USD) price trades at $4,824, up 18% from its March 23 low of $4,097. The metal is pushing toward the upper trendline of a falling channel that has held since January 29.Yet the rally has thr
goTop
quote