Cetoex News – Crypto billionaire and Tron network founder Justin Sun recently withdrew $29.7 million of ether (ETH) from the staking platform Lido Finance, according to blockchain data. He then sent the tokens to the crypto exchange Huobi.

Sun’s crypto wallet received a total of 15,805 ETH from Lido’s withdrawal address on Thursday after requesting to unstake the tokens the day before. This is according to data from the blockchain monitoring platform Arkham Intelligence.

Ethereum is up 12.7% in the last week, data from CoinMarketCap shows. Many crypto assets have rallied over the past seven days with the news of many traditional financial institutions getting more involved in crypto, such as BlackRock. Justin Sun appears to be taking advantage of these rises and is likely looking to sell some of his Ether collection, with his decision to unstake Ether.

Sun’s digital asset holdings in labeled crypto wallets were worth $1.2 billion, per Arkham. After the transaction, the wallets still held 287,855 of Lido’s staked ether tokens, worth around $543 million. Blockchain data shows that Sun also deposited 1,000 BTC to Huobi early Wednesday when the token was trading near $29,000

Recently, Sun also stated that Huobi could get a Hong Kong crypto license in six to twelve months.

NEWS BY – CETOEX NEWS

Cetoex News – Tron founder Justin Sun has been going through his fair share of rough times lately. Since being sued by the SEC for fraud and market manipulation and losing his diplomatic status, Sun has been under the radar.

With the recent court documents revealing that the US government plans to sell 41,500 bitcoin linked to the Silk Road in four different batches this year, Sun has laid out an offer to the US government.

Justin Sun offers to buy BTC at a 10% discount

Sun put out a tweet right after the news of the government’s BTC sale hit the streets. He mentioned in his tweet that he wanted to minimize the potential impact of the sale of these BTC on the market.

Tron’s founder also highlighted that he is willing to purchase these BTC at a 10% discount. He also added that it could be an OTC deal. Evidently, the sale of such a large volume of BTC could definitely affect the price.

The US government had seized 51,351.89 bitcoins in the Ulbricht case. The government sold 9,861 BTC via Coinbase on March 14, 2023. It is unclear at the moment whether the government would accept Sun’s request amid his legal dispute.

NEWS BY – CETOEX NEWS