Lookonchain reports significant cryptocurrency transactions associated with a suspected address linked to Justin Sun. Over the past 32 hours, the address purchased 54,721 ETH, valued at $154.4 million, and made substantial withdrawals and deposits
Bitcoin Price Jumps on Monday, Spurring Market Analysis coincides with Tether’s minting activity, By Wednesday moring, the coin has bounced off the $42,800 support after a brief consolidation on Tuesday.
Tether, the issuer of the controversial stablecoin USDT, has voiced strong disagreement with a recent UN report highlighting its alleged involvement in illicit activity. In a statement, Tether expressed disappointment in the “singling out” of USDT, arguing that the report “ignores its role in helping developing economies in emerging markets.” To underscore its commitment to combating financial crime, Tether pointed to its freezing of over US$300 million in suspicious funds within the past few months. This move, according to Tether, demonstrates its active participation in curbing the criminal misuse of cryptocurrencies.
Justin Sun, the founder of TRON, a blockchain DAO ecosystem, announced that the circulation of USDT on TRON has exceeded $50 billion for the first time. He also expressed his confidence that the goal of issuing $100 billion on TRON stablecoins will be achieved soon.
Trading chaos erupted on Binance as the price of its Bitcoin/USDT contract inexplicably surged to $420,000 multiple times, raising concerns about platform stability and sparking confusion among traders.