Warned by CZ, Justin Sun Said He Won't Grab Launchpool $SUI Token

After Binance announced the new Launchpool project $SUI, Justin Sun transferred a large amount of $TUSD to Binance. However, following CZ's warning, he apologized and said the token transfer was an "oversight" by his team.

According to Whale Alert, Justin Sun transferred 115.1 million $TUSD to Binance today. Regarding the matter, CZ said on Twitter, "Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will 'take action against it'. Binance LaunchPool are meant as air drops for our retail users, not just for a few whales."

Justin Sun replied under CZ's tweet 20 minutes later, "As a partner market maker for $TUSD, TRON DAO Venture's primary objective in depositing $TUSD is to facilitate market-making between leading $TUSD exchanges, thereby enhancing liquidity and trading volume, rather than participating in any exchange promotions. In just the past few hours, our market maker has achieved a total trading volume of 40 million USD, contributing to the stability of $TUSD's price."

"Regrettably, some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns. Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund of the funds. We sincerely apologize for this oversight."

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.