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.
READ MORE:
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.
You may also like
Litecoin, SOL and XRP Price Drop Ahead of Trump “Big Announcement”
Trump’s latest post teased, “TOMORROW NIGHT WILL BE BIG. I WILL TELL IT LIKE IT IS!”
Rapper Snoop Dogg Ditches Spotify to Join Web3 Platform Tune.FM
U.S Lawmakers Tom Emmer Ritchie Torres Team Up for Crypto Caucus
Nano’s (XNO) Price Breakout Signals 750% Surge With Target Set at $10.66
Trending news
MoreCrypto prices
More
