Billionaire Mark Cuban's wallet gets rid of MATIC tokens
Now on the balance of the wallet, marked as Mark Cuban 3, there are only 16 MATIC tokens left, as well as other crypto assets worth just over $3,000. As a result of the event, the price of MATIC fell by 5% in the last hours of the day and on the evening of Tuesday, December 26, was trading at $0.89.
As of the end of May 2021, when the businessman bought 2.5 million MATIC tokens from Polygon Ecosystem Growth, they cost him more than $4 million. If Mark Cuban decides to sell his holdings on the spot market at the current price, then his position in MATIC will be unprofitable , and revenue will be no more than $2.5 million.
Such a massive one-time withdrawal of assets to the spot market could be a consequence of Mark Cuban’s position in relation to the actions of the US Securities and Exchange Commission (SEC), which included MATIC in the list of unregistered securities.
$MATIC $POLS