As the US Securities and Exchange Commission (SEC) unveiled a legal case against Binance, some users have been trying to get their assets out of the exchange.
Data provided by Whale Alert shows that a whale deposited 115.27 million polygon tokens (MATIC) to BinanceUS. The assets were worth roughly $95.45 million at the time of the transaction.
However, the SEC requested a US federal judge to freeze all the Binance US assets, which caused a notable rise of FUD (fear, uncertainty and doubt) in the industry.
As the negative news around BinanceUS emerged, two whales withdrew 76.47 million MATIC coins from the exchange’s US subsidiary.
The first whale transferred 24.42 million tokens, worth $19.74 million at the time of the transaction, from the exchange to an unknown wallet. Moreover, the second whale withdrew a whopping 52.05 million coins, worth roughly $42.08 million, from BinanceUS to another unknown wallet.
Furthermore, the recent FUD around Binance and the SEC has caused a stir, and data shows that whales are selling more than they’re buying.