Justin Sun deposits $100 million to Binance amid FUD campaign

On Dec. 13, TRON laminitis Justin Sun tweeted that helium had deposited $100 cardinal to Binance. The accompanying transaction nexus confirmed 100 cardinal USDC going to code 0xd189…eb48 astatine astir 07:00 UTC.

Source: @justinsuntron connected Twitter.com

In response, Binance CEO Changpeng Zhao (CZ) said the funds were related to a woody bringing BUSD to the TRON blockchain. But helium is not definite of the precise quality of the deposit.

“This is portion of deploying BUSD connected TRON, I think. Cross-chain swaps. Not definite of the details. Not straight handling it myself.“

Doubts implicit Binance’s Proof of Reserves and ethics

Currently, Binance is successful the firing enactment implicit solvency concerns and allegations of unethical management.

The issues stem from respective incidents, including doubts implicit the efficacy of its caller Proof of Reserves (PoR) report from audit steadfast Mazars. The study found, arsenic of Nov. 22, the speech held capable assets to screen users’ balances. However, knowledgeable observers panned the scope of the report.

Kraken CEO Jesse Powell said the Mazars study was “ not a accepted Proof of Reserves.” He raised respective points, including wherefore the collateral worth was used, antagonistic balances were included, and the deficiency of wallet signing.

On intentionally FUDing a competitor, Powell denied the accusation, saying helium was making points connected “misinformation astir Proof of Reserves,” specified arsenic redefining presumption and the flaws of utilizing collateral accounting.

Similarly, a caller Reuters nonfiction said the U.S. Department of Justice is contemplating bringing enactment against the speech and cardinal executives implicit compliance and wealth laundering charges.

In response, Binance said the quality outlet “has it incorrect again,” and included a connection sent to the quality outlet and a nexus to a blog station connected the company’s efforts to stamp down connected cybercrime.

Crypto Twitter pumps the FUD

Crypto Twitter is awash with warnings connected Binance, including a caller station from capitalist Mike Alfred, who notified users to region funds from the exchange.

Source: @mikealfred connected Twitter.com

Alfred aboriginal posted astir selling unit sinking the terms of BNB and triggering a de-peg of BUSD. Binance’s autochthonal BNB token is down 5.7% implicit the past 24 hours, portion BUSD did driblet to $0.981941 but soon recovered and is trading astatine $0.997600 astatine the clip of press.

Commenting connected the situation, Analyst @Anbessa100 said the FUD was “revenge for taking down FTX,” calling the bankrupt level a “US wealth laundering operation.”

CZ called the FUD “thoroughly annoying” but conceded that “it helps america grow” and unites Binance supporters.

The station Justin Sun deposits $100 cardinal to Binance amid FUD campaign appeared archetypal connected CryptoSlate.