Justin Sun: The $405 Million TUSD Exchange Is To Advance Market Making
Key Points:
- According to Justin Sun, team members have asked for a full refund after erroneously spending a portion of their TUSD on exchange activities.
- He stated that some team members misappropriated some of the money to participate in exchange activities because they were unaware of the intended use.
In response to Changpeng Zhao, Justin Sun explained why his team participated in the TUSD transaction.
In response to Changpeng Zhao, Justin Sun tweeted, “As a cooperative market maker of TUSD, the primary purpose of TRON DAO Venture’s deposit of TUSD is to promote market making among TUSD’s leading exchanges, thereby improving liquidity and trading volume, rather than participating in any exchange promotions.” In the last few hours, our market maker has reached a total trading volume of 40 million US dollars, which has contributed to the TUSD price’s stability.
He claims that some team members participated in exchange activities with some of the money erroneously because they were unaware of the intended use. They immediately contacted the exchange team and requested a full refund when they realized their error. Additionally, he expressed regret for the error.
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According to reports, Justin Sun sent 405 million TUSD to Binance in ten transactions today. Changpeng Zhao showed that Justin Sun has been told not to involve his TUSD in SUI new cash mining or he will make a move against him.
The warning was issued by Changpeng Zhao (CZ). That’s what CZ expressed assuming Sun utilizes TUSD to join Sui LaunchPool, he would confront results. CZ further focused on that the Binance LaunchPool is expected for retail customers, in addition to a couple of whales.
The significance of transparency and efficient money management in the cryptocurrency industry is emphasized by this event. It is essential that all parties involved comprehend the funding’s intended use and act appropriately and ethically. It is quite important that TRON DAO Adventure goes about as a TUSD accomplice market producer, working with market-production between conspicuous TUSD trades as opposed to partaking in return publicizing.