Tron (TRX) founder Justin Sun talked about the recent increase in withdrawal fees from Binance. The increase in withdrawal fees was spurred by the community approval of proposal 83, which transforms the energy charging mechanism into a dynamic energy model.
We are working closely with #Binance and actively exploring solutions that would reduce withdrawal fees of #TRON stablecoins and tokens on the exchange.
NEWS CONTINUES BELOWWe remain committed to making crypto trading more affordable for everyone.
— HE Justin Sun🇬🇩🇩🇲🔥₮ (@justinsuntron) February 11, 2023
NEWS CONTINUES BELOW
He also runs the crypto exchange Huobi. Justin SunIn his Twitter post, he told his followers that he is working closely with other crypto exchange Binance. Sun reported that the exchange is actively exploring solutions to lower withdrawal fees for Tron stablecoins and tokens.
“At TRON, we are committed to building a cheap, fast and secure network. We are committed to making crypto trading more affordable for everyone.”
According to an announcement made by Binance yesterday, the withdrawal fee hike has affected four groups of crypto assets. The first are Tether (USDT), USD Coin (USDC) and TrueUSD (TUSD), with withdrawal fees increasing from 1 USDT to 2.6 USDT, marking a significant 160% increase.
Binance’s stablecoin, BUSD, saw a 175% fee increase from 0.8 BUSD to 2.2 BUSD. This was followed by TronDAO’s token TRX, whose withdrawal fee increased from 1 TRX to 15 TRX, which represents a 1400% increase. Fees have also changed for other tokens.
However, active work continues for the change in the statement from the Binance front.