10 Million CHZ Transfer To Binance Identified As Grant By Chiliz

• A 10 million CHZ transfer from Chiliz to Binance has been identified as an investment grant.
• The transfer, which took place last month, was made from Chiliz’s multi-sig wallet and was worth over half a million.
• The beneficiaries of the grant will likely market-sell their CHZ tokens in order to fund their operations.

The 10 million CHZ transfer to Binance last month has been identified as an investment grant from Web3 startup Chiliz. The crypto transaction involving millions of CHZ tokens had induced considerable anxiety in the crypto community since the initial transfer was from Chiliz’s multi-signature wallet.

Crypto influencer Playmaker took to X (formerly Twitter) earlier today to share an update to a previous tweet where they reported a 17 million CHZ ($1 million) outflow from Chiliz’s multi-sig last month. Of these, 10 million CHZ were sent to the world’s largest crypto exchange, Binance. The wallet is still holding the remaining 7 million CHZ.

Alexandre Dreyfus, the chief executive of Chiliz, responded to Playmaker’s tweets and clarified that the transfer was part of a grant from the crypto project. The beneficiaries of the grant are expect…

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