Changpeng Zhao ordered Justin Sun to remain away from the Binance LaunchPool Sui token.
Sui is a delegated proof of stake (DPoS) layer 1 blockchain based on the Move programming language. Sui utilizes the parallel data model and execution engine to improve execution efficiency. Sui token, a native token on this blockchain network, is ready to land on the Binance crypto exchange via LaunchPool.
On 1 May 2023, A Whale crypto activity tracker reported that Tron (TRX) founder Justin Sun transferred 56,100,000 #TUSD (56,444,454 USD) to the Binance crypto exchange.
Many people claimed that the Tron founder will participate in the Sui token LaunchPool to make easy money.
Binance CEO Changpeng Zhao (CZ) noted this big transaction movement and warned Justin to remain away from this token launch.
CZ explained that Binance LaunchPool is only made to launch tokens & distribute new tokens among retail customers as a part of promotional stunt, not for whales.
Justin Sun also confirmed that he mistakenly participated in the Exchange’s promotional campaign but now all the funds have been refunded to the exchange, following a conversation between his team & Binance team.
It is worth noting that many crypto Twitter users alleged that Justin is playing a big game easily and surely in the future, he can try to participate in such kind of crypto token airdrop programs to make money anonymously.
Over the last 24 hours’ trade price, the current trade price of the Sui token is 14.7% high. Right now, the crypto investors seem highly crazy with this token launch on the Binance exchange.