Polygon Whale Removes $42 Million Worth of MATIC from Binance US
According to Whale Alert, a whale has recently moved 52,052,832 Polygon (MATIC) tokens from Binance US to an unknown wallet. The value of the tokens moved is around $42.08 million. 52,052,832 # MATIC (42,082,720 USD) transferred from #BinanceUS to unknown wallethttps://t.co/BVAuWnyIsD — Whale Alert (@whale_alert) June 7, 2023 The reason for the move is most likely because of the U.S. SEC’s (Securities and Exchange Commission) move against Binance and Coinbase. In its lawsuit against Coinbase, the SEC named Polygon (MATIC), Solana (SOL), and Cardano (ADA) as unregistered securites. Other tokens named in the suit include FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. The suit may have spooked the whale into removing the tokens from Binance’s American arm. The whale currently faces uncertainty from two ends. Firstly, the Polygon ( MATIC ) tokens were on Binance, which has been slapped with a lawsuit. Secondly, the whale was holding a token which has been called an unregiste...