Changpeng Zhao to Justin Sun: Don’t Try Buying My New Tokens!

Binance head Changpeng Zhao has taken to Twitter to warn Justin Sun – the main executive behind crypto firm Tron – against using his own funds to garner the exchange’s new SUI tokens.

Zhao to Sun: Your Money’s Not Welcome!

Zhao has made it clear that these units are designed more for retail traders and that he doesn’t want “whales” (individuals with wallets stuffed to the gills with specific kinds of crypto) taking over the industry or dominating new tokens. He wants to make sure all crypto assets are distributed fairly and equally amongst users. He stated:

Our team told Justin, if he uses any of these to grab the Launch Pool Sui token, we will ‘take action against it.’ SMH. Binance Launch Pool[s] are meant as air drops for our retail users, not just for a few whales. On the bright side, blockchains are transparent.

When it first came to the scene, crypto was built to establish a degree of fairness amongst financial players that wasn’t being seen in the world of traditional finance. Many standard banks have too much control over who gains access to assets and services. Things like one’s credit history, job history, and other elements can all get in the way, and those behind crypto wanted to see a few changes thrown into the mix.

When it comes to crypto, your background doesn’t really matter. All you really need is a digital wallet and an internet connection and you can use, buy, trade, and sell assets as you see fit. There are no prying eyes, middlemen, or third parties involved to go against you or say what you can and cannot do. Crypto provides autonomy, independence, and a democratic financial status.

However, these principles haven’t always been at the forefront of trading activities, as many individuals and institutions have sought to gather up as much crypto as they can to ensure their wealth remains steadily growing. Sadly, this has cut out many smaller players who either cannot gain access to the units in question or who can no longer afford them thanks to ongoing buys.

Not Interested in Exchange Promotions

Sun defended his actions against Zhao, saying he is not one to blatantly take part in exchange promotions. He stated:

As a partner market maker for TUSD, TRON DAO Venture’s primary objective in depositing TUSD is to facilitate market-making between leading TUSD exchanges, thereby enhancing liquidity and trading volume, rather than participating in any exchange promotions. In just the past few hours, our market maker has achieved a total trading volume of 40 million USD, contributing to the stability of TUSD’s price.

He also stated that many of his team members who had already purchased units of the new coins weren’t aware that they were part of a specific exchange campaign.

Tags: Binance, Changpeng Zhao, Justin Sun, TRON