As per reports, on May 1, 2023, Changpeng “CZ” Zhao, CEO, Binance, executed a warning against Justin Sun, founder, Tron digital currency, related to the deposit of 56.1 million TrueUSD (TUSD) to Binance, stated Cointelegraph. “Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will ‘take action against it’. SMH. Binance LaunchPool are meant as air drops for our retail users, not just for a few whales,” Changpeng “CZ” Zhao, added further.
Justin Sun responded that the basic aim for adding TrueUSD “is to facilitate market-making between leading TUSD exchanges.” It is expected that members “inadvertently used a portion of them to participate in exchange campaigns,” Sun commented. After the incident was known Sun contacted Binance and would arrange for a refund, noting “We sincerely apologize for this oversight,” Cointelegraph highlighted.
“Binance will then list SUI when its liquidity meets the requirement and open trading with SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs. Exact date and timing will be announced once available,” Binance added further.
Sources revealed that more than 9.4 million BNB ($3.1 billion) and 686.8 million TrueUSD have been put up in the Sui launch pools on Binance, Cointelegraph concluded.
(With insights from Cointelegraph)