Massive Transfers of MATIC from Robinhood to Coinbase and Binance

• OxScope tweeted that a whopping 22.52 MATICs were moved from a Robinhood address.
• 19.22 million MATICs were transferred to Cumberland and B2C2 and finally reached Binance and Coinbase.
• The MATICs were moved as part of the delisting of the token following the SEC’s lawsuit.

According to the latest analysis, the recently deemed security token MATIC has witnessed massive transactions from the American financial services company Robinhood Markets. The Web3 knowledge graph protocol OxScope revealed that 22.52 million MATICs have been transferred from a Robinhood address owned by Jump in the last 24 hours.

On June 10, OxScope took to Twitter to throw light on the substantial transaction of MATIC, the native token of the blockchain platform Polygon:

Recently, the Securities and Exchange Commission (SEC) filed a lawsuit against the leading crypto platform Binance and its CEO Changpeng Zhao, alleging them of 13 charges. In the lawsuit, the regulator mentioned a few crypto tokens that have been additionally added to the list of “unregistered securities”, including BNB, MATIC, ADA, SOL, SAND, and more.

Subsequent to the lawsuit, Robinhood decided to delist ADA, MATIC, and SOL, the recently deemed securities on which the platform has a major hold. According to the revelations of the crypto analyst Fabian.D, Robinhood owns $170 million in SOL, $25o million in ADA, and $163 million in MATIC, accounting for a total of $583 million.

Reflecting on the data shared by OxScope, the Chinese reporter Collin Wu tweeted:

Wu, referring to OxScope’s tweet, pointed out that out of the total 22.52 million MATICs moved, 19.22 million MATICs were transferred to the crypto platforms Cumberland and B2C2, which finally reached the leading crypto trading platforms Binance and Coinbase. OxScope has also provided the details of the transaction address, which has been engaged in the transaction of the whopping amount of MATICs.