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News

Justin Sun Withdraws $100 Million USDT From Aave Pool

October 17, 2022 - Around 2 mins mins to read
Justin Sun, the founder of Tron, who just joined the Huobi crypto market as an advisor, has been seen transferring millions of USDT tokens. Data reveals that Sun has transferred millions of USDT, a stable currency, to his wallet amid rising market volatility.
Justin Sun Withdraws $100 Million USDT From Aave Pool
Justin Sun Withdraws $100 Million USDT From Aave Pool 3

According to PeckShieldAlert, the address Justin Sun has taken more than $100 million in USDT tokens from Aave Protocol V2 in several transactions. The transfer was made to a poloniex-funded address.

Justin Sun withdraws $100 million USDT from the Aave Protocol V2 in two $50 million batches. It further stated that the Tron creator had sent $100,000 in TUSD to the same location sponsored through Poloniex.

Meanwhile, according to Whale Alert, Justin Sun moved more than $50 million in USDT from a flagged wallet to an unknown wallet. This transaction took place immediately after Tron’s developer received the USDTs from Aave.

Following Sun’s withdrawal, the USDT in the Aave Protocol V2 pool TVL has decreased dramatically to $200 million. Aave V2 TVL, on the other hand, is currently valued at $4.07 billion.

Previously, Tron’s creator said that he has tens of millions of Huobi Tokens (HT). While he has formally taken over as the adviser of the Huobi crypto exchange, he will be increasing the HT tokens. As a result, the price of HT has increased by more than 90% in recent weeks.

Screen Shot 2022 10 17 at 8.33.30 PM
HT price chart. Source: CoinMarketCap

According to sources, on October 13, 74 million Huobi Tokens were moved from Huobi’s two official wallets. While it has been suggested that this accumulation may be part of the acquisition arrangement between Huobi and Justin Sun.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Justin Sun Withdraws $100 Million USDT From Aave Pool

Justin Sun, the founder of Tron, who just joined the Huobi crypto market as an advisor, has been seen transferring millions of USDT tokens. Data reveals that Sun has transferred millions of USDT, a stable currency, to his wallet amid rising market volatility.
Justin Sun Withdraws $100 Million USDT From Aave Pool
Justin Sun Withdraws $100 Million USDT From Aave Pool 6

According to PeckShieldAlert, the address Justin Sun has taken more than $100 million in USDT tokens from Aave Protocol V2 in several transactions. The transfer was made to a poloniex-funded address.

Justin Sun withdraws $100 million USDT from the Aave Protocol V2 in two $50 million batches. It further stated that the Tron creator had sent $100,000 in TUSD to the same location sponsored through Poloniex.

Meanwhile, according to Whale Alert, Justin Sun moved more than $50 million in USDT from a flagged wallet to an unknown wallet. This transaction took place immediately after Tron’s developer received the USDTs from Aave.

Following Sun’s withdrawal, the USDT in the Aave Protocol V2 pool TVL has decreased dramatically to $200 million. Aave V2 TVL, on the other hand, is currently valued at $4.07 billion.

Previously, Tron’s creator said that he has tens of millions of Huobi Tokens (HT). While he has formally taken over as the adviser of the Huobi crypto exchange, he will be increasing the HT tokens. As a result, the price of HT has increased by more than 90% in recent weeks.

Screen Shot 2022 10 17 at 8.33.30 PM
HT price chart. Source: CoinMarketCap

According to sources, on October 13, 74 million Huobi Tokens were moved from Huobi’s two official wallets. While it has been suggested that this accumulation may be part of the acquisition arrangement between Huobi and Justin Sun.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News