Justin Sun Moves Millions in TUSD: A Signal of Market Turbulence?

Recent activity from Justin Sun, founder of the Tron blockchain, has drawn attention after millions in TUSD, a US dollar-pegged stablecoin, were transferred to various addresses.

Blockchain analytics from Arkham Intelligence reveal that a wallet linked to Sun moved 72 million TUSD to multiple locations, leaving him with a substantial 175.7 million TUSD and additional assets like USDC and ETH.

PeckShield, another analytics firm, flagged these transactions, while a user observed a total of 216.6 million TUSD sent to HTX on both Tron and Ethereum networks, fueling rumors of a potential sell-off.

Currently, Sun’s team holds the bulk of the TUSD supply, with 394.3 million tokens, sparking speculation that he might be shorting the stablecoin.

As of now, TUSD has slightly dipped below its dollar peg, trading at $0.998, though it may recover. This development follows a separate case where TrustToken and TrueCoin settled with the U.S. SEC over fraud allegations without admitting guilt.