Multicoin Capital is down over $40M on $AAVE and now appears to be selling to cut losses.

Between Oct. 13 and Nov. 25, 2025, Multicoin Capital received 338,005 $AAVE($73.7M) from Galaxy Digital OTC wallet at an average price of $218.

It is now sitting on losses of over $40M.

Over the past 5 hours, Multicoin Capital transferred 150,000 $AAVE ($14.92M) to Galaxy Digital OTC wallet and BitGo, likely for selling.

https://intel.arkm.com/explorer/address/0x7915f9373Ae32d1fcAF0CdF17a532a3D8046D759

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