Polygon Labs CEO Denies Report That Polygon Foundation Selling Millions of $MATIC

As reported by Lookonchain, two addresses labeled Polygon Foundation have deposited over 10 million $MATIC into Binance over the last month and may have sold the token. But Marc Boiron, CEO of Polygon Labs, denied the report.

Lookonchain said on X that 0x8d36 deposited 6 million $MATIC into Binance in the past two days, while 0xf957 deposited 4.6 million tokens in the past 30 days. Both addresses are labeled by Nansen as "Polygon Foundation". At the current price, the tokens are worth more than $5.9 million.

However, Marc Boiron clarified in the comments that the addresses don't belong to the Polygon Foundation.

• Stay updated with the most important cryptocurrency news and valuable insights, conveniently delivered to your email every day. Subscribe to the TokenInsight mailing list now!
• Prefer social media? Follow us on Twitter, or subscribe to our Telegram channel!
• If you have news reports or announcements that you want to reach a wider audience, feel free to email us at news@tokeninsight.com