Polygon Founder Responds to Allegation That the Crypto Asset's Backer Dumped Over $5,900,000 in MATIC on Binance

The founder of the Ethereum (ETH) layer-2 scaling solution Polygon (MATIC) is responding to allegations that the Polygon Foundation deposited nearly $6 million worth of the digital asset on Binance.

Timeline of Polygon

The Korean company Mirae Asset Securities has closed a partnership with Polygon Labs, focusing on the growth of tokenized securities networks. Under the partnership, Polygon Labs will work as a Mirae Asset Security Token Working Group consultant.

Nansen, who was responsible for labelling these wallets, claimed that these addresses showed strong links to Polygon, however it removed the label after Polygon CEO's public refute.

Casio Computer Co., Ltd. has announced the launch of its Virtual G-Shock project, a global community platform designed to connect users of its iconic G-Shock line of durable watches.

Japan's popular watch brand Casio has partnered with Polygon Labs, the Layer-2 scalability platform of the Ethereum blockchain network, and will launch the virtual G-SHOCK watches on Polygon's protocols. Thus, the watchmaker also plans to launch an NFT-based collection of community access passes.

Polygon ($MATIC) has announced its Dragon Fruit upgrade on September 10, ForkID5, which introduces the latest Ethereum opcode, PUSH0, and a non-critical RLP parsing bug fix. The upgrade will be implemented on Polygon's zkEVM Mainnet Beta, with a 10-day timelock for users and developers.

Lufthansa and Polygon are taking off together, quite literally, it seems. According to the Lufthansa Innovation Hub and a statement on the Polygon website, passengers on the German flagship carrier will soon be able to gamify their flight experience.

Polygon (MATIC), one of the prominent players in the cryptocurrency market, has faced a turbulent period as it lost its grip on the $0.60 mark, leaving investors and traders on edge. As of the latest data available, MATIC was trading at $0.540840 on CoinGecko, reflecting a 1.4% slip in the past 24 hours and a 0.6% decline over the last seven days.

Polygon zkEVM, the next-generation Ethereum scaling solution from Polygon Labs, is set to welcome its very first upgrade since the protocol went live on the mainnet a few months ago. The first upgrade as teased by the protocol is dubbed Dragon Fruit, or ForkID5, and it is poised to introduce a whole new range of updates to the parent chain in its bid to change the world.

In a significant development for the cryptocurrency world, OkCoinJapan, a leading digital currency trading platform in Asia, has announced its plans to list new tokens, including the Shiba Inu (SHIB) token based on the Polygon protocol.

In a recent revelation that has sent ripples through the cryptocurrency community, Sandeep Nailwal, the founder of Polygon Labs, announced a significant upgrade to Polygon's native token, MATIC. The token is set to metamorphose into POL, a groundbreaking “third-generation” cryptocurrency.