Tron Founder Justin Sun Withdraws 100M BUSD From Binance, FUD Ending?

Varinder Singh
December 14, 2022 Updated September 4, 2025
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TRON Founder Justin Sun Dumps 173M TRX To Binance, Price Dip Ahead?

Tron founder Justin Sun on Wednesday withdrew 100 million BUSD stablecoins from crypto exchange Binance. The 100 million BUSD withdrawn was then moved to the Paxos Treasury. Binance CEO CZ on Tuesday pointed out that 100 million USDC transferred by Justin Sun to Binance is part of deploying BUSD on Tron through cross-chain swaps.

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Justin Sun Transfers 100 Million BUSD

PeckShield Alert in a tweet on December 14 revealed that a wallet address associated with Justin Sun has withdrawn 100 million BUSD stablecoin from Binance. The Etherscan transaction cited showed that 100,000,311.866 in Binance USD (BUSD) was transferred from Binance 15 wallet to 0x9f84 at 08:56 AM UTC.

On-chain platform Lookonchain confirmed that Justin Sun has withdrawn 100 million BUSD again from Binance. Also, Justin Sun had withdrawn almost 33.91 million BUSD and 15.43 million USDT from Binance on December 13. Thereafter, he transferred 33.91 BUSD to Paxos Treasury and 15.43 million USDT to Circle.

It should also be noted that the transfer during the Binance FUD triggered massive withdrawals from Binance. However, Justin Sun later deposited 100 million USDC into Binance to calm the market fears. Binance CEO “CZ” also pointed out that the transfer was indeed part of deploying BUSD on Tron through cross-chain swaps.

PeckShield Alert in a subsequent tweet revealed that 100 million BUSD withdrawn by Justin Sun has been transferred to Paxos Treasury. As CZ earlier suggested, this is likely part of deploying BUSD on Tron.

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Binance CEO: “Deposits Are Coming Back In”

The world’s largest crypto exchange Binance on Tuesday witnessed record daily outflows worth $1.14 billion. As per data from CryptoQuant, a net of 40,353 Bitcoins and 278,017 Ethereum tokens were withdrawn.

Binance CEO “CZ” on December 14 asserts that deposits are coming back. Moreover, these are not even the top 5 withdrawals that were processed during the Terra-LUNA or FTX crisis. He assures customers about the financial health of the crypto exchange and customers’ crypto assets.

Also Read: Binance CEO Warns Staff Of Tough Times

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.