As Justin Sun receives $200 million from Binance, investors become more worried
$200 million from the Binance exchange to his personal wallets. The flurry of transactions is happening while rumors about the problematic state of Huobi are rising in the background. Justin Sun is officially affiliated to Huobi.
Back in December, Justin Sun withdrew $1.1 billion from various exchanges, causing panic among some Huobi users and investors since the main rumor in the space was that Sun is using personal funds to back up the solvency of the cryptocurrency exchange.- Likely untrue, the amount is way too large to cover burn rate- Whispers of him cashing out
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