💲A transaction from the FTX wallet

Yesterday, there was a deposit to Kucoin made from of the wallet of the bankrupt centralized exchange FTX amounting to 450,000 TON.

This transfer has certainly affected the market price and got the value of Toncoin to the $2 mark. Meanwhile, the "BitGo FTX Bankruptcy Vault" wallet remains at 12,964,415.33 TON (~$26,914,126).

According to Spot On Chain, FTX has sold off assets of almost $600 million up until now.

Earlier, Bankman-Fried has proposed a deal to purchase $120 million worth of TON and provide payment processing services for Telegram.

FTX has since adjusted its sell offer and plans not to make public announcements about upcoming transactions, given that it could have a negative impact on the market.

How much of an impact will a $12 million crypto dump have? We can only imagine. This is where the market maker should step in to provide stability.

Yours truly, @TonPost