In a significant treasury management move, Ethereum privacy-focused Layer 2 solution Aztec Network has completed the liquidation of all ETH raised during its 2023 token sale, depositing a final $12.33 million tranche to Coinbase. This strategic decision marks the conclusion of a carefully executed financial operation that began with a substantial $59.13 million fundraising effort last December. The blockchain community now analyzes the implications of this treasury rebalancing for both Aztec’s operational runway and broader Layer 2 ecosystem dynamics.