Binance chief Changpeng “CZ” Zhao has fired a warning shot at Justin Sun after he appeared to move 59 million TUSD to Binance today.
CZ said he would take action if Sun uses TUSD to join the Sui LaunchPool. Zhao affirms that “Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.”
TUSD Moved to Enhance Liquidity: Justin Sun
Sun replied to CZ that the primary objective of depositing to Binance was to enhance liquidity, rather than participating in LaunchPool. Yet his colleagues used the fund to participate in the Sui LaunchPool.
He apologized to Zhao and assured him the team would arrange a full refund of the funds.
Sun clarified the situation by saying:
Regrettably, some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns. Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund of the funds.”
The exchange of Tweets started after a blockchain tracker bot account, “Whale Alert,” tweeted information about the TRON founder’s transaction.
Binance Users Staked $3.8B in BNB and TUSD to Farm SUI tokens
Some community members believe Sun got caught in the attempt to participate in Sui LaunchPool. A Twitter user commented sarcastically, “Justin is also human, he is also hungry for money, Right?”
The Layer 1 protocol Sui is the 33rd project on the Binance LaunchPool. BeInCrypto reported that Binance users staked $3.8 billion in BNB and TUSD to farm SUI tokens. The farming incentives started today and will run for two days.
Sui is a delegated proof of stake (DPoS) layer 1 blockchain based on the Move programming language. It has been hyped as the next Ethereum killer. Though, many networks have tried and failed to live up to this accolade.
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