Justin Sun bought 77.8 million DAI and invested in Maker
Justin Sun bought 77.8 million DAI and invested in Maker
Once again, the crypto community noticed serious transactions that raised many questions from investors and experts alike. Tron founder Justin Sun exchanged 90,254 wstETH for 77.8 million DAI. He then invested them in Maker at 8% per year.
Thus, the DSR deposit at DAI exceeded $1 billion.
Another notable transaction also involved blockchain entrepreneur Justin Sun. The TT2T17KZhoDu47i2E4FWxfG79zdkEWkU9N wallet associated with him was involved in an important and notable transaction.
According to Coincu, this transaction has raised a lot of questions among crypto investors. At the same time that Justin San's funds moved from JustLend to Huobi, Huobi's USDT reserves increased from $85 million to a significant $285 million.
This is especially significant at a time when analysts have raised concerns about the major decline in Huobi's reserves and use of USDT funds.
The Huobi cryptocurrency exchange has since provided bank statements for the bond purchase, stating that 432 million + 72 million in liquid assets were purchased on August 6.
The purchase mechanism was to place USDT in exchange for stUSDT, which eventually transferred via JustLend to trade as TUSD and USDC, and were then exchanged for USD to buy the bonds.
See also: The SEC received a letter seeking to reject Bitcoin ETF applications.
