Binance CEO “CZ” Warns Justin Sun & Whales Over Misusing SUI Airdrop

Binance CEO Changpeng “CZ” Zhao has issued a warning to Tron founder Justin Sun regarding the Binance Launchpool's SUI airdrop, stating that Binance will take action if Sun attempts to misuse it. This statement comes after Sun transferred millions of TUSD stablecoins to Binance.

Justin Sun has responded, claiming that he has no intention of participating in any exchange promotions and that the TUSD transfer was merely part of providing liquidity between leading TUSD exchanges.

Binance Pledges To Take Action Against Justin Sun

In a tweet on May 1, Binance CEO CZ stated that the Binance Launchpool's SUI token airdrops are intended for retail customers, not for Justin Sun or any whales. He warned that if Sun tries to obtain SUI tokens using the TUSD he transferred to Binance, they will know about it through transparent blockchain data.

In response, Sun clarified that the main purpose of depositing TUSD was to provide liquidity and trading volume between leading TUSD exchanges. He stated that he has no intention of participating in any exchange promotions.

Sun also argued that the transfers provided stability to the TUSD price and enough liquidity to the exchanges. However, he acknowledged that some team members unknowingly participated in exchange campaigns and plans to initiate a refund.

“We immediately contacted the exchange team and arranged for a full refund upon realizing that some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns,” said Sun.

Wallet linked to Justin Sun transferred 59 million and 56.1 million TUSD worth nearly $116 million to Binance in two transactions on May 1.

Binance Introduced SUI Farming on Launchpool

Binance revealed its latest project, the SUI token, on its Launchpool platform on April 30. Users can earn SUI tokens by staking their BNB and TUSD into separate pools on the DPoS layer 1 blockchain Sui. The farming period for SUI tokens will last for two days only.

Once the token meets the liquidity requirement, Binance will list SUI and make it available for trading in SUI/BTC, SUI/USDT, SUI/TUSD, and SUI/BNB trading pairs. Furthermore, Binance will not charge any maker fees on the SUI/TUSD trading pair until further notice.

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