Aztec Network finishes swapping 19,400 ETH from 2023 public auction into USD

Onchain analyst Ember (@EmberCN) said Aztec Network, an Ethereum privacy Layer 2 project, sent its final tranche of 5,020 ETH—worth about $12.3 million—to Coinbase early today, marking the completion of its conversion of the full 19,400 ETH (around $59.1 million) raised in a public auction last December. The project sold 15% of its AZTEC token supply, or 1.5 billion tokens, at $0.0473 in the auction—about 50% below the current price. At the time of the token generation event (TGE), the team withdrew 4,234.6 ETH to seed liquidity, while the remaining roughly 15,200 ETH was moved to Coinbase in stages over the past three months.