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TRON CEO ALLEGEDLY INVOLVED IN PRICE MANIPULATIONS ON BINANCE

TRON CEO ALLEGEDLY INVOLVED IN PRICE MANIPULATIONS ON BINANCE

The founder and CEO of TRON Justin Sun (or Trustin as he jokes on his Twitter) notorious for plagiarizing of the TRON’s code is at it again. This time it’s likely that Sun took part in the price manipulations on Binance when the trade of the TRON blockchain-based BitTorrent Token was launched.

What Happened?

At the end of January, the BitTorrent Token trade was started on Binance. As the crowdsale started the prices of many other coins have dropped quickly. It took 90 minutes for BTT to gain 15BTC worth trading volume. At that moment the price hit $0,00012 — that was x4 growth.

What made people angry is the unstable work of Binance Launchpad. Moreover, the troubles began only when 28.44% of tokens were sold out during BNB and TRX sessions. For the next several minutes Binance Launchpad was out of service preventing numerous investors from participation in the BTT trade.

According to Bitcoinexchangeguide “Binance users have recently shredded a shady BTT sell-off — wherein 28 percent of all BTT tokens were sold off to unnamed parties before the commencement of the official company sale event.”

Is it disappointing? I guess so.

Public Reaction

Social media expressed frustration about these developments that seem suspicious to many.

The Reddit user u/bannercoin guess that the entire situation was made up for the benefit of two companies — Binance and TRON: “BNB and TRX both required to buy into the ICO. Now both of those tokens will get hit hard. What other reasons can Sun and CZ come up with to keep scamming people into buying TRX and BNB?”

The Redditor u/hashparty resumes “You all just handed scammy AF JSun your money.”

Although we should remember that there are no firm facts proving that the assets went to the TRON and Binance owners. We can only guess. The response of the companies doesn’t make the situation much better or transpar...

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