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BitGo’s August 9 announcement that it was partnering with Justin Sun and BitGlobal for wrapped bitcoin (WBTC) has stoked controversy across the ecosystem and drawn greater attention to Sun’s other projects. Following the announcement, MakerDAO decided to disable new borrows against WBTC and Coinbase announced its own wrapped bitcoin product, cbBTC — a move that has drawn the ire of Sun. He has accused cbBTC of operating without proof-of-reserves or audits, going as far as to claim that exchanges that haven’t yet completed a proof-of-reserves are “unable to meet the requirements.” Unfortunately for him, Poloniex, an exchange owned by Sun that operates a wrapped bitcoin product far larger than cbBTC , doesn’t have a proof-of-reserves either. HTX, a Sun-advised exchange, relies extensively on this product, making up more than half of the ‘bitcoin’ this exchange holds. Head over to YouTube for the whole story. Read more: Justin ...

Poloniex says it will start resuming deposits on Nov. 30 with TRX, the cryptocurrency of Justin Sun’s Tron blockchain. Cryptocurrency exchange Poloniex is preparing to resume withdrawals and deposits after suffering a $100-million hack on Nov. 10. Poloniex took to X (formerly Twitter) on Nov. 29 to announce that it will be gradually resuming deposit and withdrawal services on Nov. 30 at 2:00 am UTC. The crypto exchange stressed that it will implement a phased resumption of the services to “prioritize the safety” of user funds. Poloniex will specifically start restoring Tron (TRX) deposits and withdrawals first, followed by Bitcoin (BTC), Ether (ETH), Tether (USDT) and other cryptocurrencies “within the next two weeks,” the announcement said. In addition to restoring withdrawals , Poloniex said it is actively working on introducing new listings, which will be available in the near future. The exchange also requested that all users utilize the newly updated deposit addresses once the...

Justin Sun ETH Transfer The transfer of 23,000 ETH, worth $43 million, adds to Justin Sun ‘s impressive track record of moving large amounts of Ethereum to Poloniex.  Sun’s ETH balance currently stands at 163.35 ETH, held in the wallet address 0x3DdfA8eC3052539b6C9549F12cEA2C295cfF5296. advertisement In addition to the recent transfer of 23,000 ETH to Poloniex, it is worth highlighting some previous notable transfers made by Justin Sun. One significant transaction occurred in December when Sun sent 6,500 ethers to the same exchange. Coincidentally, following this transfer, the price of Ethereum experienced a drop from $1,350 to approximately $1,151 in the subsequent days. Another substantial transfer took place on January 25th of this year when Sun moved another 10,000 units of ETH to Poloniex. Over the past year, he has sent a total of 67,500 ETH, amounting to a whopping $126 million, in seven separate transactions. Recommende...