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St. Jude Children's Research Hospital sells donated ASTEROID holdings, cashing out approximately $676k worth of ETH.
Odaily Planet Daily News reported that Marc, the head of encrypted donations at St. Jude Children’s Research Hospital, stated that the hospital received a donation of 0.5% of the total supply of ASTEROID tokens about two years ago, but due to the lack of compliant exchange channels at the time, the related assets have remained in on-chain wallets.
He said that as the market capitalization of ASTEROID increased from about $20k to over $150 million, the hospital’s holdings were valued at one point between $500k and $1 million. To avoid impacting community liquidity, the hospital ultimately sold the holdings gradually over two days in 12 batches, continuously monitoring liquidity during the process.
Marc stated that they ultimately exchanged for over 290 ETH, worth approximately $676k, and the related funds will be used to support the treatment and research of pediatric diseases at St. Jude Children’s Research Hospital.