Around $150 Million Exchanged Between Justin Sun and Binance Amid Huobi FUD
Justin Sun, shadow owner of the Chinese crypto exchange, Huobi Global on Thursday affirmed that they are planning to lay off around 20% of its staff. Since this announcement, Huobi’s native crypto price has dropped by around 12% in the last 24 hours. However, data depicts that Justin Sun is moving huge amounts of funds amid this drop.
Justin Sun moving stablecoins amid FUD
As per whaleAlert, a wallet address linked to Justin Sun has moved $100 million worth of USDC and USDT tokens to some unknown wallet. He moved $50.027 worth of USDT to another wallet. While the same amount of USDT tokens was sent to Justin earlier.
It is interesting to note that around $100 million worth of USDT and USDC were transferred from the Binance, crypto exchange to Huobi Global’s shadow owner in multiple transactions. Earlier, Justin Sun moved around $50 million worth of $50 million worth of USDT to Binance.
The tracker further noted that $100 million worth of USDC and USDT tokens were moved from an unknown wallet to Huobi, crypto exchange.
These huge transactions have been recorded when Huobi’s token and TRON (TRX) token is on a drop. Earlier, Coingape reported that TRON’s stablecoin USDD is de-pegging heavily and might collapse ahead due to uncertainty.
Reports suggest that he will shut down 1,100 staff Huobi China HQ in order to re contracting all China employees.
- Analyst Slams S&P’s ‘B-’ Rating for Strategy Inc, Says Bitcoin Treasury Model Is “Misunderstood”
- Metamask Airdrop Countdown Begins as Wallet Team Registers Token Claim Domain
- $2.5T Citigroup Partners With Coinbase to Enable Stablecoin Payments
- Who Will Be the Next Fed Chair? Scott Bessent Confirms Final Five Candidates
- Mt. Gox Delays Repayments to 2026 as Trump-Backed American Bitcoin Adds 1,414 BTC
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
- Dogecoin Price Prediction As Whales Scoop Over $300 Million- Is A Bull Run Ahead?
- Pi Coin Price Jumps 24% as 10M Tokens Exit Exchanges – Can Bulls Sustain the Momentum?
- Bitcoin Price Prediction If President Trump Announces Deal with China on October 30th- Can BTC Break $125k?
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
MEXC