On May 1, Binance CEO Changpeng “CZ” Zhao issued a warning to Tron founder Justin Sun about depositing $56.1 million of TrueUSD (TUSD) to Binance.
“Our team told Justin that if he spends a lot of these funds to join the LaunchPool Sui token, we might have to ‘take action’ as Binance LaunchPool is for retail users. Not for whales.”
Sun said that the main objective of the Tron DAO deposit TrueUSD “is to facilitate market-making among the leading TUSD exchanges.” However, Sun said some team members “Unintentionally spent some funds to participate in the campaign.” Upon discovery, Tron DAO immediately contacted Binance and arranged for a full refund. “We sincerely apologize,” said Justin Sun. write
Sui is a layer 1 blockchain created by Mysten Labs. The project was founded by former Meta executives and raised $300 million in September 2022.
On April 30, Binance LaunchPool launched stale BNB and TUSD in the Sui LaunchPool, with a total of 40 million Sui tokens or 0.4% of the total supply being sent to participating users.
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