Justin Sun’ TronDao transferred $180 million on the Binance exchange and this news acted as a catalyst to boost the conversation among the Crypto Twitter Community as the Bitcoin greed index went up.
Justin is a founder of the Tron (TRX) blockchain. In late 2021, Justin stepped down from any kind of role in all Crypto companies to become a Diplomat for Grenada. Despite he is no longer in the Crypto sector but still he remains active in the Crypto industry to talk & promote his founded Crypto projects like Tron coin, Win coin, BTT coin, Apenft coin, JST coin, Sun coin, Poloniex exchange, Huobi Global exchange, etc.
Yesterday, Justin Sun’s TronDao team transferred $180 million in funds to the Binance exchange’s wallet.
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Many Crypto Twitter users claimed that either TronDao was going to take a very big decision or they shifted their funds to the Binance wallet to purchase a big amount of crypto assets, as the greed index in the Crypto sector continuously surged since the beginning of this year.
Tron’s founder officially jumped into this increasing discussion and said that the Huobi Crypto exchange always maintains funds behind all the assets by 1:1 form, so users don’t need to take any kind of tension over their funds on the Huobi Global exchange.
Instead, the exchange holds customer assets in a 1:1 ratio, ensuring that the funds on the platform are always fully backed by corresponding reserves.
— H.E. Justin Sun
₮ (@justinsuntron) January 22, 2023
Further, Through another Tweet, Justin said that the big amount of funds transactions from TronDao to Binance took place as a part of normal Crypto Defi swap activity, which is not unusual. And also said that funds are on different crypto chains & nothing.
It is possible that you may come across large transactions on the blockchain, but please be assured that these are simply chain swaps and the funds remain safe. The chain swap process serves only as a means to transfer assets between different blockchain networks. #TRON
— H.E. Justin Sun
Read also: Ransomware Crypto payments plunges by 40% but there is a catch
TronDao transfers a big amount of money on Binance, Here is why?
https://bitcoinik.com/trondao-transfers-a-big-amount-of-money-on-binance-here-is-why/feed/
https://bitcoinik.com/trondao-transfers-a-big-amount-of-money-on-binance-here-is-why/feed/
