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<p>Tron founder Justin Sun has recently made substantial withdrawals of various <a href="https://www.cryptopolitan.com/former-sec-official-discuss-crypto-elections/" rel="noopener noreferrer nofollow">crypto</a> from the Binance exchange, raising eyebrows within the crypto community. According to a report by Lookonchain, Sun has moved approximately $60 million worth of digital assets in the past month.</p>
<h2 class="wp-block-heading" id="tron-founder-s-notable-crypto-withdrawals">Tron founder’s notable crypto withdrawals</h2>
<p>Justin Sun, the well-known founder of the Tron (TRX) blockchain, has come under scrutiny as Lookonchain, an on-chain resource, has revealed significant withdrawals from the Binance exchange. Over the last 30 days, Sun has withdrawn an estimated $60 million in multiple cryptocurrencies, with several notable tokens in the mix.</p>
<p>One of the most prominent withdrawals made by Sun includes Shiba Inu tokens (SHIB). In three separate transactions, he moved a staggering 656.4 billion SHIB tokens from Binance, now valued at approximately $6.3 million based on market prices.</p>
<p>In addition to his SHIB holdings, Justin Sun has withdrawn a substantial amount of Ethereum (ETH). Lookonchain disclosed that Sun moved 17,433 ETH, worth $43 million, from Binance within the same observation period. Furthermore, he transferred 68,999 AAVE tokens, valued at $6.7 million, to his private wallet.</p>
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   <p lang="en" dir="ltr">Since Dec 18, 2023, <a href="https://twitter.com/hashtag/JustinSun?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#JustinSun</a> has withdrawn $60M assets from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Binance</a>. <br><br>Including:<br>17,433 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a>($43M)<br>68,999 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$AAVE</a>($6.7M)<br>656.4B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$SHIB</a>($6.3M)<br>61,249 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$LINK</a>($957K)<br>27.16B <a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$FLOKI</a>($885K)<br>1.7M <a href="https://twitter.com/search?q=%24MANA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$MANA</a>($826K)<br>100,100 <a href="https://twitter.com/search?q=%24BAND&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BAND</a>($168K)<a href="https://t.co/326JCfZU6I" rel="noopener noreferrer nofollow" target="_blank">https://t.co/326JCfZU6I</a><a href="https://t.co/oB1SN9Qtbq" rel="noopener noreferrer nofollow" target="_blank">https://t.co/oB1SN9Qtbq</a> <a href="https://t.co/kxLQlKGhLU" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/kxLQlKGhLU</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1748946041666433464?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">January 21, 2024</a>
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<h2 class="wp-block-heading" id="chainlink-and-other-tokens">Chainlink and other tokens</h2>
<p>Among the various crypto assets Sun withdrew from Binance, 61,249 units of Chainlink (LINK) tokens stand out, amounting to approximately $1 million. Additionally, Sun moved meme tokens like Floki ($885,000), Decentraland (MANA, $826,000), and BAND ($168,000) out of the exchange.</p>
<p>Complementing Lookonchain’s findings, Arkham Intelligence, a prominent analytics firm, has provided further insights into Justin Sun’s crypto activities. Arkham’s data reveals that a crypto wallet associated with Sun, identified as “0x9FC…c19Fe,” has withdrawn a substantial $237.02 million over the past 218 days.</p>
<p>Furthermore, Arkham’s statistics indicate that the wallet’s withdrawal trend peaked in October 2023, coinciding with a significant price surge in the crypto market. Notably, 88% of the funds withdrawn were sourced from Binance, indicating Sun’s preference for this exchange.</p>
<h2 class="wp-block-heading" id="whale-moves-and-market-sentiment">Whale moves and market sentiment</h2>
<p>It is important to note that influential crypto investors, often called “whales,” frequently transfer tokens from exchanges to private wallets. This move is commonly associated with a long-term investment strategy and is traditionally seen as a <a href="https://www.cryptopolitan.com/tsmcs-bullish-outlook-boosts-asian-stocks/" rel="noopener noreferrer nofollow">bullish</a> signal. Whales typically send tokens to exchanges during bearish market conditions for potential sell-offs.</p>

Justin Sun withdraws $60M in crypto assets from Binance: Report

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