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MainNewsPolygon’s MA...

Polygon’s MATIC Token Controversy: What’s Behind the Suspicious Flows?


by CoinEdition
Polygon's MATIC Token Controversy: What's Behind the Suspicious Flows?
  • Allocation disparities raise questions about Polygon’s $250 million Hermez Network acquisition.
  • Collaboration between Polygon and Binance in token movements raises a billion-dollar concern for investors.
  • Suspicious token flows and transparency concerns plague Polygon’s MATIC token and Hermez Network acquisition.

The MATIC token from Polygon has attracted significant attention lately due to mounting apprehensions regarding the distribution of tokens and questionable transactions involving exchanges, with a particular focus on Binance. These concerns surrounding the transparency of token allocation and the intricate flow of funds within the Polygon ecosystem have ignited inquiries within the investor community and the broader cryptocurrency landscape.

According to Spot On Chain, a renowned blockchain figure, Hermez Network, an open-source ZK Rollup, made headlines by unstaking and depositing 4.5 million MATIC tokens, valued at $3.81 million, into SwissBorg. This move came amid growing concerns about the Polygon Foundation’s token allocation practices. 

In 2021, Polygon made a significant acquisition by acquiring Hermez Network for a substantial $250 million.…

The post Polygon’s MATIC Token Controversy: What’s Behind the Suspicious Flows? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

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Immutable zkEVM Transactions Rise 5.7% in Q1 2025, IMX Price Slides 60%

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MainNewsPolygon’s MA...

Polygon’s MATIC Token Controversy: What’s Behind the Suspicious Flows?


by CoinEdition
Polygon's MATIC Token Controversy: What's Behind the Suspicious Flows?
  • Allocation disparities raise questions about Polygon’s $250 million Hermez Network acquisition.
  • Collaboration between Polygon and Binance in token movements raises a billion-dollar concern for investors.
  • Suspicious token flows and transparency concerns plague Polygon’s MATIC token and Hermez Network acquisition.

The MATIC token from Polygon has attracted significant attention lately due to mounting apprehensions regarding the distribution of tokens and questionable transactions involving exchanges, with a particular focus on Binance. These concerns surrounding the transparency of token allocation and the intricate flow of funds within the Polygon ecosystem have ignited inquiries within the investor community and the broader cryptocurrency landscape.

According to Spot On Chain, a renowned blockchain figure, Hermez Network, an open-source ZK Rollup, made headlines by unstaking and depositing 4.5 million MATIC tokens, valued at $3.81 million, into SwissBorg. This move came amid growing concerns about the Polygon Foundation’s token allocation practices. 

In 2021, Polygon made a significant acquisition by acquiring Hermez Network for a substantial $250 million.…

The post Polygon’s MATIC Token Controversy: What’s Behind the Suspicious Flows? appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Crypto Whale Nets Over $9M in Profits, Stacks 309 BTC Despite Market Dips

Crypto Whale Nets Over $9M in Profits, Stacks 309 BTC Despite Market Dips

A crypto whale has emerged as a top-performing trader over the past month, reaping mo...
Immutable zkEVM Transactions Rise 5.7% in Q1 2025, IMX Price Slides 60%

Immutable zkEVM Transactions Rise 5.7% in Q1 2025, IMX Price Slides 60%

Immutable recorded steady growth in daily network usage in the first quarter of 2025....