TRON inventor Justin Sun is back on the agenda today with nearly $200 million in crypto money transfers. The crypto community suggests that Sun is making the move before a big event is coming.
Tron founder withdraws $200 million in crypto from Binance
Tron founder and Houbi advisor Justin Sun recently cashed out $198 million in crypto through Circle. On-chain researcher Lookonchain notes that Sun moves funds across multiple blockchains and points of sale. cryptocoin.com As we reported, the Tron founder recently announced on Twitter the large amount of funds he sent to his Binance wallet. Lookonchain reported on Dec. 26 that Sun pulled this fund in USDT:
Justin Sun transferred 198 million USDC to Circle to cash out in the last 2 days. On December 25, he transferred 198 million USDC to Binance on the TRON network, and on the same day, 198 million USDT was withdrawn from Binance to the Ethereum network. Just completed all 198 million USDC in cash.
The transactions cause suspicion and concern in the crypto community. Some speculated that Sun was probably aware of an upcoming market event. The Houbi advisor worried the crypto community earlier this month when he made multiple batches of payments from Binance to Paxos and Circle.
Binance CEO CZ commented that Sun’s recent transactions are part of pulling BUSD into the Tron network (TRX). However, the founder of TRX later tweeted in Chinese, explaining that the distribution of cash between exchanges is just standard business cooperation and does not reflect any market judgment or speculation.
In a related development, Sun’s Tron network will launch a Blockchain-based CBDC with the Chinese currency TrueCNH (TCNH). Specifically, TCNH will be an algorithmic stablecoin pegged 1:1 to the Chinese yuan. The TrueUSD team, which currently manages the TUSD stablecoin, will be responsible for the TCNH issuance.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.