On May 1, Binance CEO Changpeng Zhao "CZ" issued a warning to Tron founder Justin Sun about depositing $56.1 million in TrueUSD (TUSD) to Binance. The Binance executive wrote:
“Our team told Justin that if he used any of these to acquire LaunchPool Sui tokens, we would 'take action' on them. SMH. Binance LaunchPool aims to provide airdrops to our retail users, not just a few Whale service." In response , Sun stated that the main goal of Tron DAO's TrueUSD deposit “is to facilitate market making among leading TUSD exchanges.” Nonetheless, Sun stated that some team members “inadvertently used some of it to participate in exchange activities.” Upon disc overy, Tron DAO immediately contacted Binance and arranged for a full refund. "We sincerely apologize for this oversight," the blockchain personality wrote.
Sui is a layer 1 blockchain created by Mysten Labs. The project was founded by former Meta executives and raised $300 million in September 2022. On April 30, Binance LaunchPool opened the BNB-Sui and TUSD-Sui staking pools for its users. A total of 40 million Sui tokens, or 0.4% of the total supply, will be airdropped to users staking BNB
Binance Coin or TUSD tokens over two days. Binance explained: “Binance will list SUI and open SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs when its liquidity meets the requirements. The exact date and time will be announced when available.”
At the time of publication, more than 9.4 million BNB ($3.1 billion) and 686.8 million TrueUSD have been staked in Binance's Sui startup pool. This feature requires Know Your Customer verification and is not available in restricted countries like the US or North Korea .
