Justin Sun Moves Millions in TUSD: A Signal of Market Turbulence?
Recent activity from Justin Sun, founder of the Tron blockchain, has drawn attention after millions in TUSD, a US dollar-pegged stablecoin, were transferred to various addresses.
Blockchain analytics from Arkham Intelligence reveal that a wallet linked to Sun moved 72 million TUSD to multiple locations, leaving him with a substantial 175.7 million TUSD and additional assets like USDC and ETH .
PeckShield, another analytics firm, flagged these transactions, while a user observed a total of 216.6 million TUSD sent to HTX on both Tron and Ethereum networks, fueling rumors of a potential sell-off.
Currently, Sun’s team holds the bulk of the TUSD supply, with 394.3 million tokens, sparking speculation that he might be shorting the stablecoin.
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Bitcoin Eyes New Heights, Will Altcoins Follow?As of now, TUSD has slightly dipped below its dollar peg, trading at $0.998, though it may recover. This development follows a separate case where TrustToken and TrueCoin settled with the U.S. SEC over fraud allegations without admitting guilt.
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.
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