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 <p class="is-style-lead">American billionaire Mark Cuban has <a rel="noopener noreferrer nofollow" title="moved" href="https://thebittimes.com/tag/moved.html">moved</a> to Coinbase over $2.5 million worth of MATIC he received from Polygon in 2021.</p>
 <p>Billionaire and Shark Tank star Mark Cuban has transferred nearly 3 million MATIC worth more than $2.5 million he originally received from the Polygon Ecosystem Growth initiative to crypto exchange Coinbase, according to data from blockchain monitoring platform Spot On Chain.</p>
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    <p lang="en" dir="ltr">American billionaire Mark Cuban (@mcuban) <a rel="noopener noreferrer nofollow" title="unstaked" href="https://thebittimes.com/tag/unstaked.html">unstaked</a> and deposited 2.82M $MATIC ($2.56M, price: $0.91) to #Coinbase ~6hrs ago.<br><br>Notably, he received 2.5M $MATIC (then $4.25M) from the #Polygon Ecosystem Growth on May 24, 2021, and then <a rel="noopener noreferrer nofollow" title="staked" href="https://thebittimes.com/tag/staked.html">staked</a> them to earn more $MATIC.<br><br> More… pic.twitter.com/vwQiJZkN3O</p>— Spot On Chain (@spotonchain) December 26, 2023
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 <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, saying 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 lang="en" dir="ltr">For all practical purposes, Polygon can (again) be considered an underdog.<br><br>This is where we come from; it’s where we’re comfortable and highly motivated. <br><br>I’m excited; game on.</p>— Mihailo Bjelic (@MihailoBjelic) December 24, 2023
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 <p>The latest move comes just a day after Polygon founder Mihailo Bjelic said in an X post 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>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Billionaire Mark Cuban eyes blockchain use for real-estate innovation
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/mark-cuban-reportedly-unstaked-and-moved-matic-holdings-to-coinbase-tbt74772.html">https://thebittimes.com/mark-cuban-reportedly-unstaked-and-moved-matic-holdings-to-coinbase-tbt74772.html</a></p>

Mark Cuban reportedly unstaked and moved MATIC holdings to Coinbase

TheBitTimes

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