Binance made statements after Tron founder Justin Sun warned about the SUI token.
Justin Sun, whose name has started to be mentioned with many events recently, came up with another topic this time. Sun warned Binance of a possible token grab.
Justin Sun Releases Recovery Fund After Warn Binance
Tron founder Justin Sun said in a tweet today that he has set up a full $56 million refund to Binance, following Binance’s warning of possible seizure of the new SUI token.
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…
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 1, 2023
After the major transfer in TrueUSD (TUSD) was flagged by Whale Alert, Binance CEO Changpeng Zhao warned that his platform would take action if it used Sun to purchase any of the funds to purchase large amounts of SUI.
Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will "take action against it". SMH.
Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.
On the bright side, blockchains are transparent… https://t.co/8Xs1oXjfVd
— CZ 🔶 BNB (@cz_binance) May 1, 2023
CZ said in its statement:
“Binance LaunchPool means airdrop for our retail users, not just a few whales.”
The SUI token, the native token of Layer-1 Blockchain Sui, is set to airdrop when the mainnet goes live on May 3. On Sunday, Binance announced that the SUI token will be available through Launchpool, allowing users to stake crypto assets to fund a liquidity pool and receive rewards in return.
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