Tron co-founder accused of printing TUSD out of ‘thin air’
Tron co -founder , Justin Sun, is facing more allegations of engaging in questionable tactics to mint TUSD out of “thin air,” reportedly using deposits from two exchanges, Huobi and Poloniex. Recent on-chain data from Sun’s verified address, “TT2T17…U9N”, on Tron reveals that he minted $62 million in TUSD on July 21, 2023, withdrew $50 million in USDT from Huobi before proceeding to deposit $50 million USDT to Bitfinex. Afterward, he burned $50 million TUSD and added $50 million USDT and $12 million TUSD to JustLend, a top DeFi protocol on Tron. TUSD is a stablecoin that tracks the value of USD. The instant minting and burning of TUSD have raised concerns about the intention of Sun. Observers on Twitter said there was no apparent explanation from Sun to mint TUSD before instantly burning them. You might also like: Justin Sun speaks on trueUSD growth, looks to acquire a BRICS tender Adam Cochran, a vocal crypto analyst, speculates that unless ...