Justin Sun, the founder of Tron (TRX), has been on the agenda with various crypto money transactions in recent weeks. Huge transactions attracted attention through his accounts, which are known to belong to him. However, Sun cleared the rumors with his statement. Specifically, he stated that rumors of him selling his USDC stablecoin were false. He said the transactions with Circle are internal fund allocation and allocation only. He pointed out that he used the funds to invest in six coins. Here are the details…
Sun made a statement about the latest cryptocurrency transactions
Tron founder Justin Sun explained the reasons behind USDC transactions with Circle in a tweet on Oct. So far, Justin Sun has transferred approximately $236 million to Circle. He stated that transactions with Circle are no USDC cash out. He said it was only internal fund allocation and allocation. He pointed out the many recurring USDC transactions with Circle. Sun used the following statements:
The withdrawal rumor is not true. The transaction with USDC Circle is internal capital allocation only. We are extremely optimistic about crypto, we are recruiting strongly and we are raising legal tenders in Dominica.
The rumor of cashing out is not true. The transaction with USDC Circle is only internal capital deployment with double counting. We are highly bullish on crypto, recruiting vigorously, increasing our holdings of Dominica legal tenders like #TRX #HT #BTT #JST #NFT #SUN.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) October 21, 2022
TRON and Dominican government partnered
As we reported on cryptokoin.com, the Dominican government has partnered with smart contract blockchain platform Tron to issue Dominica Coin (DMC), a token that supports the natural and cultural heritage of the Caribbean nation. Developed on the Tron Blockchain, the DMC token will use the mechanics of a fan token. Fan tokens are normally associated with sports teams. It allows token holders to vote on governance issues such as the choice of colors on jerseys.
The project will “help support Dominica’s global fascination for its natural heritage and tourist attractions,” the Dominican government said in a press release. Sun also stated that it has increased its investments in tokens such as Huobi Token (HT), Bittorrent (BTT), Just (JST), NFT and SUN, which are included in the Tron (TRX) ecosystem with its transactions.
Sun’s latest transactions
The address known to be Justin Sun’s in the last 24 hours has moved 50 million BUSD from Aave. As it is known, BUSD is Binance’s USD-pegged stablecoin. In addition, Sun transferred 70 million to Paxos. Also, another address revealed that 72 million USDC was withdrawn from Binance. These funds were then transferred to Circle. Earlier, Justin Sun moved USDC to Circle and 20 million TUSD to Binance on October 14. Also, on October 17, it had withdrawn 100 million USDT from Aave V2 and transferred 100 thousand TUSD to another funded address. After Sun became a member of Huobi’s Global Advisory Board, huge amounts of transactions were recorded.
46278
