The funds transferred were held in USDT and USDC.
Nansen reported that the last 24 hours accounted for $60.9 million.
After hearing that the crypto exchange Huobi was laying off workers, Tron founder Justin Sun shifted $100 million worth of his stablecoins to the exchange. Nansen’s analysis of the blockchain shows that the funds were transferred from Binance to Huobi, a cryptocurrency exchange in which Sun has a controlling share.
The funds transferred were held in USDT and USDC. According to Bloomberg, Sun later admitted that he had actually sent the “personal funds” since he felt doing so “shows the confidence to Huobi exchange.”
Reassuring Confidence in the Exchange
Martin Lee, an analyst at Nansen, said on Twitter that the move “might be to help with the increased withdrawals or maintain a level of confidence in the exchange.” Customers have started making big cash withdrawals.
Nansen reported that the last 24 hours accounted for $60.9 million of the $94.2 million in
We współpracy z: https://thenewscrypto.com/justin-sun-transfers-100m-stablecoins-to-huobi-amid-large-withdrawals/
