Token

Swap

<ul class="news-points">
 <li><strong>NEAR Foundation CEO Illia Polosukhin denied Wintermute’s request to exchange 11.2 million USN stablecoins for USDT.</strong></li>
 <li><strong>NEAR suspected that the acquired USN tokens may have questionable origins and potential ties to illegal activities.</strong></li>
 <li><strong>Illia Polosukhin, the new CEO of NEAR Foundation, took on the role to guide the organization’s growth and coordination.</strong></li>
</ul>
<p>NEAR Foundation CEO Illia Polosukhin revealed that the organization had denied a request from <a href="https://coinedition.com/market/" rel="noopener noreferrer nofollow">crypto market</a> maker Wintermute to exchange 11.2 million USN stablecoins for USDT.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">NEAR Foundation CEO Illia Polosukhin said that Wintermute acquired 11.2 million USN from Alameda estate and requested to exchange them for USDT. These USN is of suspicious origin and may be related to illegal activities, and Wintermute is trying to arbitrage. Therefore its…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1722093225186587006?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 8, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The revelation was first reported by Chinese journalist Colin Wu. In a tweet, Wu stated that Polosukhin had flagged the acquired USN tokens as likely originating from questionable sources and potentially tied to illegal activities. As such, NEAR rejected the proposed swap to avoid effectively laundering the funds.</p> … 
<p>The post <a href="https://coinedition.com/near-ceo-rejects-wintermutes-11-2m-usn-token-swap-for-usdt-request/" rel="noopener noreferrer nofollow">NEAR CEO Rejects Wintermute’s 11.2M USN Token Swap for USDT Request</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

NEAR CEO Rejects Wintermute’s 11.2M USN Token Swap for USDT Request

Coin Edition

Other articles published on Nov 8, 2023

Ethereum Price Bullish Momentum Fades But ETH Bulls Still In Control

Binance unveils Web3 wallet to simplify DeFi access

LayerZero’s ZRO To Be Launched Within 10 Days But Some Projects May Be Affected

Cryptocurrency Analyst Identifies Two Altcoins Ready for a Bullish Run

XRP Lawyer’s Insight: How Spot ETF Approval Might Impact Bitcoin

Toncoin (TON) emerges as top gainer, strong buy signal surfaces

Join our free newsletter for daily crypto updates!