Tron Founder Justin Sun Clarifies Purpose of Tron DAO Venture Exchange Deposits

Justin Sun deposits 155.1 Million TUSD to Binance

Following a total deposit of 155,100,000 TUSD from Justin Sun to Binance, as reported by blockchain tracker and analytics system Whale Alert, the Tron founder quickly took to Twitter to clarify the purpose of the deposits. 

The deposits were sent in two batches of 59,000,000 (59,479,670 USD)  and 56,100,000 (56,444,454 USD) TUSD, respectively. 

According to Justin Sun, the purpose of the TRON DAO Venture depositing into the exchange as a cooperative market maker of TUSD is to level the price difference of major TUSD and increase the liquidity of pending orders and trading volume, and not to participate in activities in related exchanges.

Sun’s comments came after users began to speculate that the Tron founder intends to participate in Binance’s latest launchpool event. 

What is TRON Network:

Tron is an open-source blockchain-based decentralized digital platform with its own cryptocurrency, called Tronix or TRX. Established in 2014 by Justin Sun and founded in 2017 by a Singapore non-profit organization, Tron Foundation aims to host a global entertainment system for the cost-effective sharing of digital content.

Where to find TRON Network:

Website | Twitter | Telegram | Discord | Medium 

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