EddieJayonCrypto
19 Feb 25
Galaxy’s Head of Research, Alex Thorn, denies allegations that meme coin analyst Murad Mahmudov sold his SPX6900 (SPX) tokens to them. Rumors claimed Murad conducted a $20 million token sale for $13 million through OTC transactions, bypassing on-chain activity. Allegations extended to Galaxy acquiri...
Galaxy’s Head of Research, Alex Thorn, refutes allegations that meme coin analyst Murad Mahmudov sold his SPX6900 (SPX) tokens to them. Reports suggested Murad conducted a $20 million token sale for $13 million through over-the-counter (OTC) transactions, bypassing on-chain activity. Allegations extended to Galaxy acquiring Murad’s seed phrase and liquidating his assets through private OTC deals, which Thorn refuted as fake.
According to rumors, Murad offloaded $20 million worth of SPX tokens for $13 million, bypassing on-chain transactions to avoid public scrutiny. Claims suggested that Galaxy acquired Murad’s seed phrase, granting them control over his wallets. However, Alex Thorn shut down the rumors, stating they were fabrications designed to mislead the public, and emphasizing that Murad has been a vocal supporter of SPX.
While Murad's endorsements raised concerns about potential market manipulation, the rumors of him selling SPX had little impact on the token’s struggling price performance. At the time of writing, SPX traded at $0.61, reflecting a bearish sentiment in the market with monthly losses at 56.1%.