Justin Sun Transferred $156 Million Worth of Bitcoin to Binance – Here’s Why

It's being reported that Tron (TRX) founder Justin Sun is likely exchanging BTC for WBTC.

Amid the ongoing controversy surrounding “wrapped Bitcoin” (WBTC) and the entrepreneur, a mysterious crypto whale has amassed a significant amount of WBTC.

According to Spot on Chain,this whale purchased 347 WBTC worth $20 million in one day and accumulated a total of 1,953 WBTC worth $118 million from Binance last week at an average price of $58,853.

EmberCN reported that while this unknown whale was accumulating WBTC, Justin Sun’s address transferred 2,590 BTC totaling $156.41 million to Binance.

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These significant transactions have caught the attention of the crypto community, sparking speculation that the billionaire’s team may be involved in the BTC for WBTC exchange.

Earlier in August, BitGo, the company behind WBTC, announced plans to transfer control of the token to a joint venture involving it, Hong Kong-based investment manager BiT Global and the Tron ecosystem led by Justin Sun.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.