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It's being reported that Tron (TRX) founder Justin Sun is likely exchanging $BTC for WBTC.
Amid the ongoing controversy surrounding “wrapped Bitcoin” (WBTC) and the entrepreneur, a mysterious crypto whale has amassed a significant amount of WBTC.
According to Spot on Chain,this whale purchased 347 WBTC worth $20 million in one day and accumulated a total of 1,953 WBTC worth $118 million from Binance last week at an average price of $58,853.
EmberCN reported that while this unknown whale was accumulating WBTC, Justin Sun’s address transferred 2,590 $BTC totaling $156.41 million to Binance.
These significant transactions have caught the attention of the crypto community, sparking speculation that the billionaire’s team may be involved in the $BTC for WBTC exchange.
Earlier in August, BitGo, the company behind WBTC, announced plans to transfer control of the token to a joint venture involving it, Hong Kong-based investment manager BiT Global and the Tron ecosystem led by Justin Sun.