50 million USDC entered EdgeX from the @edgeX_exchange treasury. Is this for market making or a buyback in preparation for the TGE (Treasury Exchange) 3 days later $EDGE?
1⃣ Data on Defillama shows that the EdgeX treasury decreased by $50 million stablecoins in the past day, from $190 million to $140 million.
Defillama data: defillama.com/protocol/edgex?t...…
2⃣ I checked on-chain and found two wallets, including the market maker Amber Group, that transferred the corresponding 50 million USDC across chains to EdgeX. The receiving address 0xc8B...783 currently holds approximately 75 million USDC on EdgeX.
USDC transferred to EdgeX: intel.arkm.com/explorer/addres...…
intel.arkm.com/explorer/addres...…
USDC receiving address in EdgeX: pro.edgex.exchange/zh-CN/explo...…
3⃣ I previously saw news that half of the treasury funds ($95 million) would be used for buybacks after TGE. So, could these funds be used to execute a token buyback through market maker Amber in a few days? 🤔
