Joseph Lubin's Dormant Wallet Transfers $123M ETH to MakerDAO on June 6

According to on-chain data tracked by Lookonchain, a wallet linked to Ethereum co-founder Joseph Lubin transferred 80,001 ETH (approximately $123 million) to MakerDAO on June 6, after sitting dormant for over three years. Rather than a sale, the funds were deposited as collateral to support existing borrowing positions on the lending protocol.

Arkham data shows Lubin's wallet still controls roughly 133,300 ETH, valued at over $205 million at current prices, with no evidence of exchange deposits that would indicate a sell-off.