Justin Sun withdraws $100m from Binance a day after depositing the same

Justin Sun, the creator of Tron, withdrew 100 million BUSD from Binance and sent it to the Paxos Treasury as per a PeckShield alert tweet.

The recent PeckShield Alert tweet showed that a wallet address connected to Justin Sun took 100 million BUSD stablecoin and moved it from the Binance wallet at 8:56 AM UTC. He then moved 100 million BUSD from his account to Paxos Treasury.

Lookonchain, an on-chain platform, verified that Justin Sun had taken another withdrawal of 100 million BUSD from Binance. Additionally, on Dec. 13, Justin Sun took almost 34 million BUSD and 15.5 million USDT out of Binance. He then sent 15.43 million USDT to Circle and 33.91 million BUSD to Paxos Treasury, which totaled almost $49 million worth of stablecoins.

Just a day before that Justin Sun transferred to Binance the same amount in USDC. According to Binance CEO CZ, this was a portion of implementing BUSD on Tron through cross-chain swaps, hence the withdrawal throws more FUD on the exchange.

CZ says deposits are coming back in

Binance, the biggest cryptocurrency exchange in the world, reportedly had record daily outflows of $1.14 billion on Tuesday. A net amount of 40,353 Bitcoins and 278,017 Ethereum tokens were removed, according to statistics from CryptoQuant.

On Dec. 14, Binance CEO CZ said that deposits were returning. Furthermore, he insisted that the withdrawals the company was facing were not in the top 5, as those handled during the FTX or Terra-LUNA crises were more significant.

However, amid this latest withdrawal news, whether the FUD actually has some hidden juice now burns even more.

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