EdgeX treasury will transfer 50 million USDC to the market maker, which will be used for TGE market making or buyback

According to Ember Monitoring, edgeX's treasury has reduced its stablecoin holdings by 50 million in the last day, from 190 million to 140 million USD.

Through on-chain investigation, Ember found that two wallets, including the market maker Amber Group, transferred the corresponding 50 million USDC cross-chain into edgeX. The receiving address 0xc8B…783 currently holds about 75 million USDC on edgeX. Ember speculates that this portion of USDC may be used for market making during the TGE or for token buybacks.