• NEAR Foundation CEO Illia Polosukhin denied Wintermute’s request to exchange 11.2 million USN stablecoins for USDT.
• NEAR suspected that the acquired USN tokens may have questionable origins and potential ties to illegal activities.
• Illia Polosukhin, the new CEO of NEAR Foundation, took on the role to guide the organization’s growth and coordination.

NEAR Foundation CEO Illia Polosukhin revealed that the organization had denied a request from crypto market maker Wintermute to exchange 11.2 million USN stablecoins for USDT.

NEAR Foundation CEO Illia Polosukhin said that Wintermute acquired 11.2 million USN from Alameda estate and requested to exchange them for USDT. These USN is of suspicious origin and may be related to illegal activities, and Wintermute is trying to arbitrage. Therefore its…

— Wu Blockchain (@WuBlockchain) November 8, 2023

The revelation was first reported by Chinese journalist Colin Wu. In a tweet, Wu stated that Polosukhin had flagged the acquired USN tokens as likely originating from questionable sources and potentially tied to illegal activities. As such, NEAR rejected the proposed swap to avoid effectively laundering the funds.

…

The post NEAR CEO Rejects Wintermute’s 11.2M USN Token Swap for USDT Request appeared first on Coin Edition.

• NEAR Foundation CEO Illia Polosukhin denied Wintermute’s request to exchange 11.2 million USN stablecoins for USDT.
• NEAR suspected that the acquired USN tokens may have questionable origins and potential ties to illegal activities.
• Illia Polosukhin, the new CEO of NEAR Foundation, took on the role to guide the organization’s growth and coordination.

NEAR Foundation CEO Illia Polosukhin revealed that the organization had denied a request from crypto market maker Wintermute to exchange 11.2 million USN stablecoins for USDT.

NEAR Foundation CEO Illia Polosukhin said that Wintermute acquired 11.2 million USN from Alameda estate and requested to exchange them for USDT. These USN is of suspicious origin and may be related to illegal activities, and Wintermute is trying to arbitrage. Therefore its…

— Wu Blockchain (@WuBlockchain) November 8, 2023

The revelation was first reported by Chinese journalist Colin Wu. In a tweet, Wu stated that Polosukhin had flagged the acquired USN tokens as likely originating from questionable sources and potentially tied to illegal activities. As such, NEAR rejected the proposed swap to avoid effectively laundering the funds.

…

The post NEAR CEO Rejects Wintermute’s 11.2M USN Token Swap for USDT Request appeared first on Coin Edition.