Justin Sun Transferred $156 Million Worth of Bitcoin to Binance – Here’s Why
It's being reported that Tron (TRX) founder Justin Sun is likely exchanging BTC for WBTC.
Amid the ongoing controversy surrounding “wrapped Bitcoin” (WBTC) and the entrepreneur, a mysterious crypto whale has amassed a significant amount of WBTC.
According to Spot on Chain,this whale purchased 347 WBTC worth $20 million in one day and accumulated a total of 1,953 WBTC worth $118 million from Binance last week at an average price of $58,853.
EmberCN reported that while this unknown whale was accumulating WBTC, Justin Sun’s address transferred 2,590 BTC totaling $156.41 million to Binance.
READ MORE:
SEC Halts Solana ETF Filings, Delaying Approval ProcessThese significant transactions have caught the attention of the crypto community, sparking speculation that the billionaire’s team may be involved in the BTC for WBTC exchange.
Earlier in August, BitGo, the company behind WBTC, announced plans to transfer control of the token to a joint venture involving it, Hong Kong-based investment manager BiT Global and the Tron ecosystem led by Justin Sun.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FBI seizes Polymarket CEO’s phone and electronics: report
French fast-food chain Furahaa Group to list FURA tokens on INX Platform
SEC Chair Gary Gensler Gives First Sign He May Resign – Has He Made His Final Announcement?
SEC Chairman Gary Gensler, who is disliked by the cryptocurrency world, gave the first signal that he may resign.
BREAKING: 18 States in the US Sue the SEC and Chair Gary Gensler for Cryptocurrency Actions
Trending news
MoreCrypto prices
More
