Crypto KOL "Bonk Guy," who has suffered a paper loss of $20 million, announced that he has transferred all of his USELASS holdings to a CEX.

PANews reported on March 5th that, according to Arkham's monitoring, crypto KOL "Bonk Guy," who previously suffered a paper loss of $20 million, announced that he has transferred all of his USELASS holdings to a centralized exchange. Simultaneously, he went long on $230,600 worth of USELASS on the Lighter platform with 2x leverage, corresponding to a market value of approximately $43.4 million at the time of opening the position. This trade currently shows a paper profit of $16,000. Arkham jokingly suggested that he should now be called "USELESS Guy."

Furthermore, according to Bonk Guy's post, his reasons for the transfer included: publicly disclosed holdings are irrelevant to the project's success or failure, and the market has proven that his holdings have no real impact on the price; publicly holding the tokens would do more harm than good to himself and the project, avoiding scrutiny when the tokens rise back to their previous highs; storing eight-figure assets in a TG bot wallet poses security risks, and hacking would lead to even bigger problems. He emphasized that the token transfer was unrelated to price and that he would still hold USELESS until it reaches its all-time high or above.