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Justin Sun transfers $ 56.4 million TUSD to Binance, CZ warns whales of misuse of Sui Airdrop
Tron founder and crypto entrepreneur Justin Sun Sun transferred 56.1 million true USD (TUSD) worth over $ 56.4 million to the Krypto exchange Binance and thus triggered rumors about his intention to farm the SUI (SUI) token in the Binance launch pool. Shortly after WallALARM, the transaction, CEO of Binance, Changpeng Zhao (CZ) revealed that the SUN stock exchange team had warned not to use part of the TUSD deposit to receive the SUI premiums on the platform. Sui-Farming on Binance Launchpool On Sunday Binance announced that user SUI, the native token of Sui Network, a delegated proof-of-stake (dpos)-layer 1 blockchain, the ...
Justin Sun transfers $ 56.4 million TUSD to Binance, CZ warns whales of misuse of Sui Airdrop
Tron founder and crypto entrepreneur Justin Sun Sun transferred 56.1 million True USD (TUSD) worth over $ 56.4 million to the Krypto exchange Binance and thus triggered rumors about his intention to farm the SUI (SUI) token.
Shortly after WalaAlarm Charged the transaction, CEO from Binance, Changpeng zhao (cz) had no part of the TUSD deposit to get the SUI premiums on the platform.
Sui-Farming on Binance Launchpool
On Sunday, Binance announced that users SUI, the native tokens of Sui Network, a delegate Proof-of-Stake (dpos) layer 1-blockchain, which is based on the MOVE programming language, can farm in his launch pool.
With Binance Launchpool, retailers can use their crypto-assets in liquidity pools from emerging blockchain projects in order to obtain daily calculated rewards. SUI is the 33rd project in the launch pool, and users can use their binance Coin (BNB) and TUSD in separate pools to farm SUI for two days from May 1, 2023
Binance then lists the token on its trading platform across various trading pairs, including SUI/BTC, SUI/USDT, SUI/TUSD and SUI/BNB if the liquidity of the token reaches the necessary amount. The stock exchange also did not promise investors, until further notice
CZ commented on the actions of Sun and insisted that the Binance Launchpool was intended as Airdrops for the stock exchange retail users, not just for a few whales. He further noted that the Binance team was ready to take action against the founder if he used his stored assets to collect the SUI token during the farming period
sun apologizes
A few minutes after the disclosure of CZ, Sun apologized for the oversuit caused by the transmission and clarified the situation. He said that the decentralized autonomous organization (DAO) from Tron had stored TUSD to facilitate the market make-up between the stock exchanges and to improve liquidity and trade volume.
Some members of the TRON team were not aware of the main goal of the DAO and used the funds to take part in exchange campaigns and campaigns.
Unfortunately, some of our team members of the intended use of these funds were not entirely conscious and accidentally used part of them to participate in exchange campaigns. When we noticed this error, we immediately contacted the exchanges and arranged a complete reimbursement ...
- He Justin Sun 孙宇晨 (@Justinsuntron) 1. May 2023
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