Lighter has withdrawn 32.05 million USDC to its treasury address, of which approximately 7.5 million USDC has entered LLP

According to MLM monitoring, Lighter has withdrawn 32.05 million USDC to its treasury address, while approximately 100,000 USDC remains in the fee wallet on the Lighter platform.

Of the 32.05 million dollars, about 8.6 million dollars has been redeposited back into Lighter since October 16, with approximately 7.5 million dollars entering LLP (the generated fees will be returned to the holders, reflected in the LLP earnings).

This is somewhat unusual, as this arrangement has never been disclosed externally or mentioned in documents—equivalent to about 25% of total revenue being used for this purpose. The remaining approximately 21.9 million USDC has been transferred to a Coinbase custody address.