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Crypto Entities Take Action as Multichain Protocol Faces Delays and Concerns

Three major players in the cryptocurrency industry have taken action in response to concerns and delays surrounding the cross-chain protocol Multichain.

The Fantom Foundation withdrew $2.4 million in liquidity of the protocol's native MULTI tokens on decentralized exchange SushiSwap, while Chinese crypto investment firm HashKey Group moved $250,000 to crypto exchange Gate.io.

Tron founder Justin Sun also withdrew 470,000 of the stablecoin USDD from the protocol itself. Multichain has been experiencing delays due to an upgrade, with only one more router left to be upgraded. Despite this, the token's price has declined by 27.6% in the last 24 hours.

Justin Sun
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