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<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/usdts-rise-on-tron-sparks-hope-but-justin-suns-transactions-raise-suspicion/">USDT’s Rise on Tron Sparks Hope, but Justin Sun’s Transactions Raise Suspicion!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In the thrilling world of cryptocurrencies, a captivating narrative has emerged, bringing both promise and speculation to the forefront. Tether (USDT), a popular stablecoin, has been making waves on the Tron blockchain, particularly in Latin America, indicating a financial turning point. Yet, some unusual occurrences surrounding the chain of transactions linked to Tron’s founder, Justin Sun, have left industry insiders skeptical and curious.</p> 
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   <p lang="en" dir="ltr">Exciting to witness Tether on Tron gaining traction in Latin America! As <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> gains status as the future reserve currency, USDT on Tron will play a crucial role—enabling seamless Bitcoin purchases. Tron, known for speed and low fees, complements <a href="https://twitter.com/tether?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Tether</a>'s goals. <a href="https://t.co/HxGCzcuRe7" rel="noopener noreferrer nofollow">https://t.co/HxGCzcuRe7</a></p>— H.E. Justin Sun 孙宇晨 (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1682292420715909120?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 21, 2023</a> 
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<h2 class="wp-block-heading" id="h-the-rise-of-usdt-on-tron-a-beacon-of-hope-for-latin-america"><strong>The Rise of USDT on Tron: A Beacon of Hope for Latin America</strong></h2> 
<p>Cryptocurrency commentator, Peter McCormack, has recently drawn attention to a growing trend – the use of USDT on the Tron network, which is becoming a cost-effective alternative to traditional ATM transactions. McCormack’s insights suggest that USDT on Tron could be a game-changer for handling dollars and pesos in Latin America, a region notorious for high conversion and withdrawal fees.</p> 
<p>Excitement brims as Justin Sun, Tron’s founder, expresses enthusiasm over Tether’s increasing usage on his platform. Sun envisions USDT on Tron playing a crucial role as Bitcoin evolves into a potential future reserve currency, making Bitcoin purchases seamless. He points out Tron’s speed and low fees as additional advantages aligning with Tether’s objectives.</p> 
<h2 class="wp-block-heading" id="strong-an-unusual-chain-of-transactions-strong"><strong>An Unusual Chain of Transactions</strong></h2> 
<p>However, as USDT gains traction on Tron, Adam Cochran, a partner at CEHV, raises alarming suspicions about some peculiar transactions associated with Sun’s Tron address. The strange tale starts with the minting of $62 million in TUSD, a stablecoin pegged to the US dollar, followed by a withdrawal of $50 million USDT from Huobi to Bitfinex, then a burn of $50 million TUSD, and finally, deposits of $50 million USDT and $12 million TUSD into JustLend, a Tron-based decentralized lending platform.</p> 
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   <p lang="en" dir="ltr">1/3<br><br>Like wtf Justin, just out in the open<br><br>Justin Sun's address on Tron (TT2T17KZhoDu47i2E4FWxfG79zdkEWkU9N)<br><br>-Mints $62M TUSD<br>-Withdraw's $50M in USDT from Huobi.<br>-Deposits $50M UDST into Bitfinex<br>-Burns $50M TUSD<br>-Deposits $50M USDT and $12M TUSD into JustLend <a href="https://t.co/0rHY5LABdW" rel="noopener noreferrer nofollow">https://t.co/0rHY5LABdW</a> <a href="https://t.co/KI34oLp7em" rel="noopener noreferrer nofollow">pic.twitter.com/KI34oLp7em</a></p>— Adam Cochran (adamscochran.eth) (@adamscochran) <a href="https://twitter.com/adamscochran/status/1682097478491860998?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 20, 2023</a> 
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<p>Cochran raises important questions. Why would Sun mint and burn TUSD so quickly? Is he trying to inflate balances temporarily for a snapshot or to offset debt? If so, are these funds even backed? For someone as reputable as Justin Sun, these are concerning possibilities.</p> 
<h2 class="wp-block-heading" id="strong-tether-on-tron-promise-or-peril-strong"><strong>Tether on Tron: Promise or Peril?</strong></h2> 
<p>The tale of Tether’s rise on Tron is undoubtedly fascinating, signaling possible financial innovation for regions like Latin America. However, the unusual activities surrounding this phenomenon warrant a closer look to ensure transparency and integrity in this dynamic industry.</p>

USDT’s Rise on Tron Sparks Hope, but Justin Sun’s Transactions Raise Suspicion!

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