TechFlow reported, citing crypto KOL MartyParty, who stated early yesterday morning on X: "Galaxy Digital is handling over-the-counter (OTC) sales of FTX's assets. On the previous day, some MATIC was sold to Coinbase and Kraken. Two million MATIC were sold to Coinbase, and one million MATIC to Kraken. Coinbase paid 1 million USDT to FTX, while Kraken paid 500 ETH."
MartyParty believes that FTX's assets will not enter the open market. He explained: "OTC stands for over-the-counter, meaning exchanges are trading inventory among themselves without using order books, so it won't impact the market."
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