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<p class="is-style-lead">American billionaire Mark Cuban has moved to Coinbase over $2.5 million worth of MATIC he received from Polygon in 2021.</p> 
<p>Billionaire and Shark Tank star <a href="https://crypto.news/tag/mark-cuban/" target="_blank" rel="noreferrer noopener">Mark Cuban</a> has transferred nearly 3 million <a href="https://crypto.news/price/polygon/" target="_blank" rel="noreferrer noopener">MATIC</a> worth more than $2.5 million he originally received from the Polygon Ecosystem Growth initiative to crypto exchange <a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noreferrer noopener">Coinbase</a>, according to <a href="https://twitter.com/spotonchain/status/1739459327063380435" target="_blank" rel="noreferrer noopener">data</a> from blockchain monitoring platform Spot On Chain.</p> 
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<p> You might also like: <a href="https://crypto.news/polygon-investors-shift-focus-to-new-crypto-token/"> Polygon investors shift focus to new crypto token </a> </p> 
<p>While the purpose of the transfer remains unclear, Cuban’s investment valued the assets at $4.25 million in May 2021. If sold at the current market price, it would represent a potential 40% loss compared to two years ago. As of press time, Cuban made no public statements on the matter.</p> 
<p>Mark Cuban, known as the former majority owner of the Dallas Mavericks NBA team (now minority owner), backed Polygon in May 2021, <a href="https://www.coindesk.com/markets/2021/05/25/mark-cuban-invests-in-ethereum-layer-2-polygon/" target="_blank" rel="noreferrer noopener">saying</a> he was using the layer-2 solution “more and more.” However, specific details about the size and composition of his investments have not been disclosed.</p> 
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<p>The latest move comes just a day after Polygon founder Mihailo Bjelic <a href="https://x.com/MihailoBjelic/status/1738885493385777152?s=20" target="_blank" rel="noreferrer noopener">said in an X post</a> that “for all practical purposes, Polygon can (again) be considered an underdog.” As of press time, MATIC is trading at $0.86, lower by 70% from levels last seen in December 2021.</p> 
<p> Read more: <a href="https://crypto.news/billionaire-mark-cuban-eyes-blockchain-use-for-real-estate-innovation/"> Billionaire Mark Cuban eyes blockchain use for real-estate innovation </a> </p>

Mark Cuban reportedly unstaked and moved MATIC holdings to Coinbase

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