Tron Co-founder Accused of Minting TUSD Out of Thin Air

Tron Co-founder Justin Sun Accused of Minting TUSD “Out of Thin Air”

Tron co-founder Justin Sun is facing allegations of questionable tactics in minting TUSD on the Tron blockchain. Recent on-chain data reveals that Sun minted $62 million in TUSD, withdrew $50 million in USDT from Huobi, and deposited $50 million USDT to Bitfinex. Sun then burned $50 million TUSD and added $50 million USDT and $12 million TUSD to the JustLend DeFi protocol on Tron. This instant minting and burning of TUSD have raised concerns about Sun’s intentions, with observers questioning why he would mint TUSD only to burn it.

Key Points:

– On-chain data shows Justin Sun minting $62 million in TUSD.
– Sun withdrew $50 million in USDT from Huobi and deposited it to Bitfinex.
– $50 million TUSD was burned, and $50 million USDT and $12 million TUSD were added to JustLend.
– Observers speculate that Sun may be minting TUSD “out of thin air” using assets from exchanges.
– Adam Cochran criticizes Sun for potentially using exchanges as “piggy banks” to borrow more coins.

Hot Take:

The allegations against Justin Sun regarding the minting of TUSD raise concerns about his activities on the Tron blockchain. Without an explanation from Sun, it appears that he is engaging in questionable tactics. This further adds to the controversies surrounding Sun, including the previous charges by the SEC for selling unregistered securities and market manipulation. The crypto community should carefully examine Sun’s actions and hold him accountable for any potential misconduct.