In the last 24 hours GoldenTree shuffled millions of dollars in $SUSHI holdings and sent much on a trail that ended in Binance. realDannyNelson reports
he and the decentralized autonomous organization were subpoenaed by the Securities and Exchange Commission. Grey did not elaborate on the focus of the apparent investigation but called on the DAO to raise a $3 million legal defense fund.
SUSHI is the governance token for Sushi DAO and gives its holders a voice in how the exchange operates. It was trading at $1.22 immediately before Tuesday’s news but has fallen 11% in the days since and was around $1.08 at press time, according to CoinGecko.the firm’s SUSHI investment, did not immediately comment. Grey declined to comment on GoldenTree’s SUSHI position.
On-chain activity reveals how GoldenTree has shuffled its holding in recent days. The asset manager started the week with xSUSHI tokens worth over $7 million. Then on Wednesday it swapped 4.4 million of those tokens for 5.95 million SUSHI tokens that it had staked with Sushi. CoinDesk identified the wallets usingLast night and this morning it sent two batches of tokens valued at $5.4 million total to an address controlled by crypto trading desk Cumberland.
Members of SUSHI’s Discord server speculated the on-chain activity indicated GoldenTree had already sold its position.
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