On August 28, COINOTAG cited monitoring by The Data Nerd showing an on-chain transfer of 23.46 million USDC from SharpLink (SBET) to an address linked to Galaxy Digital, observed approximately 20 minutes before the report. Blockchain records confirm the stablecoin movement, but no counterparty disclosure has been issued regarding the transaction’s intent.
Market participants typically monitor large stablecoin flows for potential shifts in liquidity or treasury allocation, yet there is currently no verified information that the funds were converted or allocated to ETH or other assets. Reporting is limited to verifiable on-chain activity; further details would require confirmation from the involved entities or additional on-chain analysis.