According to Whale Alert, a service that tracks major cryptocurrency transactions, Tron founder Justin Sun has transferred 60 million USDT (Tether) to Binance.
Sun's transfer to Binance took place today at 14:27 CEST.
Sun's transfer was part of a group whale movement that included USDT, a stablecoin pegged to the US dollar. According to Whale Alert data, at 14:22 CET, Sun received 120.9 million USDT from JustLendDAO, a decentralized loan platform on the Tron network. He then sent about half of that amount to Binance and kept the other half in his wallet.
As a latest development, Justin Sun transferred approximately $67 million USDT tokens to JustLendDAO at 14:46 CET.
Another 50 million USDT whale transfer took place at 14:30 CEST from Binance to an unknown wallet. It is unclear whether this transfer is related to Sun's transaction.
Sun is a controversial figure in the crypto space, known for his aggressive marketing and promotional activities. He previously offered $4.6 million to have lunch with Warren Buffett, who was a fierce critic of cryptocurrencies, but later canceled it. It also bought BitTorrent, a popular file-sharing platform, and Poloniex, a crypto exchange, in 2018 and 2019, respectively.
Sun did not comment on the reason why he transferred 60 million USDT to Binance.
*Not investment advice.