Altcoin Team Shifting to Controversial Business Model Deposits Money to Binance

A major sale may be coming for decentralized cryptocurrency trading platform SushiSwap’s token SUSHI.

According to a post by blockchain analysis platform Lookonchain, an address connected to the SushiSwap team deposited 3.75 million SUSHI to the Binance exchange this morning.

According to historical transaction records, these SUSHI tokens were taken from the SushiSwap Operation Multisig wallet on May 16. It is generally assumed that tokens are deposited to centralized cryptocurrency exchanges for the purpose of selling.

The SUSHI price has increased along with other cryptocurrencies in the last 24 hours. According to CoinGecko data, SUSHI, which has increased by 5.8 percent, is trading at $0.5856 at the time of writing.

It has implemented the controversial plan

SushiSwap implemented its controversial business model last month after months of discussion. The new model, called Sushi Labs, combines a decentralized autonomous organization (DAO) with a “council structure.”

Sushi Labs is an administrative, technical, and operational company responsible for managing the Sushi ecosystem. The project, details of which were first announced in March, is designed to meet “market demands and user needs.”

Sushi Labs also took control of the DAO’s budget, which consists of a total of 25 million SushiSwap tokens. While token holders still have a say in how this treasury is used, they are not involved in operational details.