Amid the continuing controversy surrounding Wrapped Bitcoin and Tron (TRX) founder Justin Solar, an unknown crypto whale has amassed a big quantity of Wrapped Bitcoin (WBTC).
Based on the information, the whale, which bought 347 WBTC (value $16 million) throughout the day, amassed a complete of 1,953 WBTC (value $118 million) from Binance at a mean worth of 58,853 final week.
Based on EmberCN’s put up, whereas the unknown whale was accumulating WBTC, Justin Solar’s tackle transferred 2,590 BTC value a complete of $156.41 million to Binance.
Whereas these transfers attracted the eye of the group, this delivered to thoughts the query “May Justin Solar’s crew be swapping BTC for WBTC?”
“Possibly Justin Solar’s crew is swapping BTC for WBTC?
Following the announcement of WBTC’s custody change, Solar’s tackle transferred a complete of two,590 BTC ($156.41 million) to Binance.
Then, a newly created tackle on the Ethereum chain began withdrawing WBTC from Binance, and a complete of 1,953 WBTC ($117.78 million) has been withdrawn to date.
Given the timing and motivation, this is able to probably contain the Solar crew swapping BTC for WBTC.”
Tron founder Justin Solar’s inclusion in Wrapped Bitcoin has raised issues within the crypto group, with crypto platform Spot On Chain suggesting that Justin Solar could also be exchanging Bitcoin for Wrapped Bitcoin primarily based on transactions involving giant quantities of Bitcoin and WBTC.
Earlier in August, BitGo, the crew behind WBTC, introduced plans to switch management over the token to a three way partnership involving itself, Hong Kong-based funding supervisor BiT World, and the Tron ecosystem led by Justin Solar.
*This isn’t funding recommendation.
