edgeX Treasury Transfers 50 Million USDC to Market Maker, Potentially for TGE Market Making or Buybacks

AirdropBlackHole · 2026-03-28T13:01:22+00:00

On March 28th, Ember reported a $50 million decrease in edgeX's stablecoin reserves, now at $140 million. Two wallets, including Amber Group, bridged USDC to edgeX, raising speculation about its use for market making or buybacks.

AirdropBlackHole

2026-03-28 13:01:22

Abstract generation in progress

On March 28th, according to Ember monitoring, the edgeX treasury decreased its stablecoin holdings by 50 million coins in the past day, dropping from $190 million to $140 million. Through on-chain investigation, Ember discovered that two wallets, including market maker Amber Group, had bridged the corresponding 50 million USDC into edgeX. The receiving address, 0xc8B…783, currently holds approximately 75 million USDC on edgeX. Ember speculates that this portion of USDC may be used for TGE market making or token buybacks.

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