New data from blockchain-tracking service Lookonchain reveals that the founder of Tron (TRX) is gobbling up hundreds of millions of dollars worth of Ethereum (ETH) as the crypto market goes through a correction. In a new thread on the social media platform X, Lookonchain says that Justin Sun, who founded Tron in 2017, has accumulated […]
The post Tron Founder Justin Sun Accumulates Over $559,000,000 in Ethereum (ETH) Amid Crypto Correction: Lookonchain appeared first on The Daily Hodl.
The SEC filed an amended suit against Justin Sun after the Tron founder sought to dismiss the suit last month, claiming the regulator had no jurisdiction.
The United States Securities and Exchange Commission has rejigged its lawsuit against Tron founder Justin Sun, claiming he’s “traveled extensively” throughout the country — thus giving it jurisdiction.
The regulator argues it has “personal jurisdiction” over Sun, Tron and two other businesses he controls, as they “purposefully took actions in and directed toward the United States,” it wrote in an April 17 amended complaint to a Manhattan federal court.
Sun spent a total of over 380 days in the U.S. between 2017 and 2019 on business trips to New York City, Boston and San Francisco, the SEC claimed.
Solana price is down 21% in a week, but on-chain and derivatives data highlights investors’ confidence that the network can overcome recent hurdles.
Solana’s native token SOL (SOL) experienced a significant 21% decline over the past week, reaching its lowest point in nearly six weeks. This downturn triggered a substantial $113 million in liquidations of leveraged long SOL futures contracts since April 11, suggesting that investors may have been overly optimistic following SOL's 61% price surge in March.
This raises questions about the potential for further corrections and whether the $130 support level will hold firm.
Market analysts observe that Solana’s current market capitalization of $60 billion appears inflated, particularly when compared to Avalanche’s (AVAX) $13 billion and Tron’s (TRX) $10 billion, standing four and six times higher, respectively. However, some argue that the premium is justified by the rapid expansion of Solana’s ecosystem, with many projects launching their own tokens.
TRON DAO excels as Platinum Sponsor, sparking dialogue on blockchain's future at Harvard Blockchain Conference.
The post TRON DAO at Harvard Blockchain Conference and New TRON Builder Tour Stop appeared first on Crypto Briefing.
Tron Foundation and other firms associated with Tron (TRX) founder Justin Sun are asking a judge to dismiss the lawsuit lodged against them by the U.S. Securities and Exchange Commission (SEC). In a motion filed late last month, lawyers for Tron say that the SEC is going beyond its jurisdiction when it moved to regulate […]
The post Tron Foundation Files Motion To Have SEC Lawsuit Dismissed, Says Agency ‘Not a Worldwide Regulator’ appeared first on The Daily Hodl.
Crypto exchange Binance will end support for TRC-20-based USDC tokens on April 5, following an announcement by USDC issuer Circle to discontinue support for the stablecoin on the Tron blockchain. Circle ceased minting USDC on Tron and aims to phase out support entirely, aligning with efforts to maintain USDC’s trust, transparency, and safety. Binance users […]
In a recent development observed by onchain alerts, the entity responsible for exploiting the Heco bridge and siphoning off millions in ethereum late in November 2023 from the conduit bridge connecting Ethereum and the Heco blockchain, transferred 40,391.8 ether to the mixing platform Tornado Cash. Heco Bridge Exploiter Transfers Millions Worth of Ether to Tornado […]
Over the past week, the stablecoin trueusd (TUSD) experienced a notable decrease in its supply. As of March 19, 2024, the circulation was approximately 1.1 billion TUSD, which then plummeted to just 612 million. Supply Slash Sees TUSD Fall From Top 5 Stablecoin Rankings to 8th Position Previously ranked among the top five dollar-pegged cryptocurrencies […]
