Justin 'T-Bills' Sun prints $800M to himself
This year, crypto entrepreneur Justin Sun has been on a streak of questionable decisions — but his brazenness seemingly became out of control on Friday, when he decided to mint over $800 million worth of his own stablecoin TUSD, put them into a lending protocol he named after himself, and burn them all. Sun, a former Grenadian ambassador who has since seen that honor stripped away, raised eyebrows when he started multiple algorithmic stablecoins after the collapse of the Terra/Luna ecosystem. The Tron founder controversially decided to purchase crypto exchange Huobi and has been sued by the SEC for alleged market manipulation of his own tokens. On Friday, however, Sun took the crypto cake by print ing $815 million worth of his stablecoin TUSD . The funds were then sent to Sun-controlled Huobi — now curiously rebranded to HTX. These funds and an extra $40 million were then burned. This caused a strange spike in the TUSD market cap. Only, the excitement didn’t end there; ...