The stablecoin deviated from its price peg as Tron founder Justin Sun claimed that First Digital Trust is "effectively insolvent," a characterization the company pushed back on.
Techteryx says it was the victim of what it called "large-scale fraud" rendering TUSD's stablecoin reserves stuck in illiquid investments made without its permission
Techteryx is suing First Digital for allegedly redirecting nearly half a billion dollars worth of TUSD reserves into illiquid investments.
TRON founder Justin Sun has revealed that the network might reduce the TRX block rewards due to TRX’s rising price, sparking a discussion in the cryptocurrency community. Sun noted that this move is similar to Bitcoin’s halving mechanism, capturing the attention of investors who are wondering about the plan’s possible impact on traders. Related Reading: XRP Set For Big Rally – Analyst Says ‘Double Digits’ This Year Tron: Reducing Block Rewards Sun shared, in a post on X, his thoughts on potentially implementing a reduction in the network’s reward scheme for its TRX. He said that it is worth paying attention to the discussion about TRX’s upcoming reduction in block rewards. “Here are my personal thoughts. As we all know, TRX is already in a deflationary state of 1% per year, making it the only deflationary asset among major cryptocurrencies,” he explained. The TRON founder said that due to TRX’s rising price, “the rewards for block-producing nodes across the network have increased significantly, so a moderate reduction could be considered.” This discussion about TRX’s upcoming reduction in block rewards is worth paying attention to! Will TRX follow Bitcoin’s path and enter a halving cycle? Here are my personal thoughts. As we all know, TRX is already in a deflationary state of 1% per year, making it the only… — H.E. Justin Sun ???? (@justinsuntron) March 21, 2025 Following Bitcoin’s Path In the post, Sun said that TRX might follow what happened to Bitcoin, saying, “Will TRX follow Bitcoin’s path and enter a halving cycle?” He explained that the firstborn cryptocurrency followed a similar path, saying that once the BTC network grew, investors saw a gradual decrease in its block rewards. “In the early days, higher rewards were necessary for bootstrapping the network. However, as Bitcoin’s price surged, block rewards were lowered, and the halving cycle played a crucial role in Bitcoin’s long-term sustainability—aligning with Satoshi Nakamoto‘s original vision,” the founder added. Impact Of The Reduction Sun also shared the possible impact of reducing TRX block rewards, giving two scenarios. “If daily block rewards are reduced by 1 million TRX, the deflation rate would increase by 50%, reaching 1.5% per year,” he said. On the other hand, he believes that if TRX is reduced by 2 million, the deflation rate would increase to 2% per year, “effectively doubling the deflation rate, with an impact on TRX cycles comparable to Bitcoin’s halving.” “Even with a block reward reduction, the current incentives for network validators remain highly attractive. Ultimately, this decision rests with the TRX community,” he added. The founder revealed that the network has formally submitted on GitHub the proposed block rewards reduction. Related Reading: Ethereum Whales Pounce On The Dip, Snag $236 Million In ETH “The adjustment aims to create a more balanced supply-demand dynamic encouraging increased user participation in staking. This will benefit all stakeholders, ensure the TRX block rewards consistent with the maturity of the TRON network, and promote the healthy and sustainable development of the TRON ecosystem,” the network stated in the proposal. Among the benefits that can be gained from its implementation are better deflation, increased staking incentives, strengthened network security, and improved economic alignment. “Timely adjustments to TRX block rewards can better promote the healthy and sustainable development of the TRON network and TRON ecosystem,” the network added. Featured image from Gemini Imagen, chart from TradingView
TRON founder Justin Sun has teased a possible integration of TRX within the Solana ecosystem. Sun stated in a March 18 post on X that TRX would soon be available on Solana while encouraging users to prepare for collaboration. The announcement sparked significant optimism within the crypto community, with prominent Solana ecosystem member Mert Mumtaz, […]
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Arkham users can more easily track the wallet transactions of Justin Sun, Vitalik Buterin, Arthur Hayes, Donald Trump and other high-profile figures in the crypto industry.
According to Bloomberg, lawyers representing Justin Sun and the US Securities and Exchange Commission (SEC) are requesting a stay in the ongoing regulatory proceedings against him. Justin Sun And SEC Seek Case Pause This joint filing, submitted on Wednesday, indicates that both parties believe it is in their mutual interest to pause the case while they explore a potential resolution. They assert that such a stay would not prejudice any involved parties or non-parties, marking a collaborative approach to navigating the complexities of crypto regulation. This follows a similar request for a pause in the case against Binance and reflects a notable shift in the regulatory climate for digital assets in the United States since the inauguration of President Donald Trump. Related Reading: Panic Sell? Bitcoin’s $86K Fall Wipes Out $1 Billion In Trades Under the acting chair Mark Uyeda, the SEC has recently closed investigations into several crypto entities, including Robinhood, the decentralized finance firm Uniswap, and the non-fungible token (NFT) marketplace OpenSea. Most significantly, Coinbase announced that the SEC agreed to drop its lawsuit against the largest digital asset exchange in the US, pending commissioner approval. SEC Favoring Trump’s Business Associates? These actions mark a significant pivot from the previous administration’s approach, which has been criticized by various crypto executives, many of whom celebrated the former SEC Chair Gary Gensler’s resignation in January. Specifically, the SEC sued Justin Sun in 2023, alleging that he collaborated with entities he controls, such as the Tron Foundation and BitTorrent Foundation, to orchestrate the offer and sale of “unregistered securities.” However, the recent decision to seek a stay in these proceedings suggests a reevaluation of the agency’s priorities, particularly concerning figures like Justin Sun. Related Reading: Strategy (MSTR) Crashes 55%—Is A $44 Billion Bitcoin Liquidation Possible? Corey Frayer, director of investor protection at the Consumer Federation of America and a former adviser to Gensler, noted that the absence of fraud charges in the Justin Sun case signifies a “troubling politicization” of the SEC. The director remarked that the agency’s current approach appears to be “benefitting Trump’s business associates,” suggesting a shift in regulatory focus that aligns with the interests of the former president. This comes amid significant investments in Trump’s World Liberty Financial (WLFI), with Justin Sun purchasing over $70 million in WLFI token’s to support this upcoming decentralized finance (DeFi) venture. Featured image from the WSJ, chart from TradingView.com
SEC, Justin Sun, Tron Ask Court to Pause Fraud Case Over 'Potential Resolution'
Folkman claims WLFI's success came despite "no VC backing and no special treatment to anybody who purchased the token."
As the Ethereum price lingers below its all-time highs (ATHs), TRON founder Justin Sun has emerged with a bold vision aimed at revitalizing the altcoin’s value. Sun’s Vision For The Ethereum Price In a recent social post on X (formerly Twitter), Sun proposed a plan that he believes could propel the Ethereum price to unprecedented heights, targeting a price of $10,000. Sun’s strategy hinges on a radical overhaul of the Ethereum Foundation (EF) and the Ethereum protocol itself. Related Reading: US Bitcoin Reserve: Eric Trump’s Deleted Tweet Raises Eyebrows The TRON founder asserts that under his leadership, immediate and decisive actions could almost double the current price peak for ETH. One of his primary proposals is to halt the sale of ETH for a minimum of three years. By doing so, Sun aims to stabilize the currency’s supply and bolster market confidence. To cover operational costs during this period, Sun suggests leveraging Aave (AAVE) lending, staking yields, and stablecoin borrowing, thereby ensuring that the ETH supply remains intact while aligning with deflationary goals. In addition to halting sales, Sun proposes imposing significant taxes on Layer 2 (L2) projects. He believes this move could generate at least $5 billion annually for Ethereum, either in stablecoins or tokens. The revenue from these taxes would be utilized to repurchase and burn ETH in a decentralized manner, further enhancing scarcity and potentially driving up demand. Major Staff Cuts To Transform Ethereum Foundation Into Meritocracy In his social media post, Sun also emphasized the need to streamline operations within the Ethereum Foundation. He suggests a significant reduction in staff, retaining only the most capable team members. Those who remain would receive substantial salary increases, transitioning the Ethereum Foundation into a merit-based organization that rewards high performance. Furthermore, the TRON founder calls for adjustments in node rewards and a stronger focus on fee-burning mechanisms. By reducing node rewards, Sun believes Ethereum can solidify its deflationary status, reinforcing its position as a store of value. Related Reading: Cardano Will Reach $1.50 Once The $1.10 Resistance Breaks – Details The focus, according to Sun, would shift exclusively toward Layer 1 (L1) development, prioritizing scalability, security, and broader adoption. Sun is confident that these initiatives could lead the Ethereum price to surpass $4,500 within the first week of implementation, laying the groundwork for long-term success. While this only represents Sun’s vision for the Ethereum price, any of these proposals, if viable for driving another leg up of the altcoin, could ultimately be adopted by the co-founders or the developers of the platform. As of this writing, the Ethereum price hovers around the $3,200 mark, reflecting a loss of 4% over the past 24 hours. This decline has widened the gap between the current price and its ATH of $4,878, representing a difference of 34.5%. Featured image from DALL-E, chart from TradingView.com
The project now holds $352 million worth of crypto tokens, Arkham shows.
Tron founder Justin Sun has outlined ambitious plans to revolutionize stablecoin transactions by eliminating fees. According to a Jan. 23 statement on X, Tron’s development team is creating a framework that would enable zero-cost transactions for stablecoins, aiming to boost the adoption of these assets. Sun previously announced similar plans in 2024 when he proposed […]
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Justin Sun, the founder of the Tron network, has unveiled an ambitious strategy to transform Ethereum’s ecosystem and push its price to $10,000. In a Jan. 22 post on X, Sun detailed how changes in supply management, operational strategy, and fiscal policies could reshape the trajectory of the second-largest digital asset by market capitalization. Sun’s […]
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Coinbase has filed a motion to dismiss a lawsuit from BiT Global that challenges the firm’s decision to delist Wrapped Bitcoin (wBTC), according to a Jan. 21 court filing. This follows the denial of BiT Global’s earlier legal attempt to block the delisting through a court order. Last year, Coinbase removed wBTC from its platform […]
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World Liberty Financial (WLFI), a DeFi platform associated with Donald Trump, is seeing a sudden surge in demand for its token pre-sale. The project initially sought to raise $300 million during its token sale but scaled back its target to $30 million after facing fundraising challenges. However, on Jan. 20, WLFI confirmed that it successfully […]
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The T3 Financial Crime Unit (T3 FCU), a collaborative effort between stablecoin giant Tether, the TRON blockchain, and blockchain intelligence company TRM Labs, has achieved a notable milestone by freezing over $100 million in criminal assets across the globe. A Game-Changer In Blockchain Security? Launched in August 2024, the T3 FCU has quickly established itself […]
In a notable development for Donald Trump’s crypto initiative, World Liberty Financial (WL), has reportedly exchanged approximately $10 million worth of wrapped Bitcoin (WBTC) for tokens associated with project adviser Justin Sun, founder of the TRON blockchain. World Liberty Financial Links With Justin Sun In Major Token Swap According to blockchain data analytics firm Nansen, a digital wallet linked to President-elect’s World Liberty Financial swapped its entire holding of 103 cbBTC tokens for WBTC on a Wednesday operation. Wrapped Bitcoin serves as a bridge for Bitcoin (BTC) holders to engage in decentralized finance (DeFi) activities on the Ethereum (ETH) blockchain, enabling broader participation in the DeFi ecosystem. Related Reading: Crypto Expert Predicts Major Altcoin Season As Market Cap Eyes Record Levels Although World Liberty has been marketed as a decentralized finance lending platform, it has yet to become operational as it is still in early stages of development and presales of its WLF token. Sun, a cryptocurrency entrepreneur known for his high-profile investments and attention-grabbing antics—including purchasing a banana duct-taped to a wall for $6.2 million—invested $30 million in World Liberty Financial in November, becoming an adviser to the project. His involvement appears to have pushed World Liberty past a financial threshold that could allow Trump to profit from the enterprise, potentially securing at least $15 million for the Trump family based on terms outlined in World Liberty’s “gold paper.” Trump’s Crypto Initiative Struggles The recent token swap follows World Liberty’s earlier cryptocurrency acquisitions, including significant investments in Aave (AAVE) and Chainlink (LINK). Additionally, Nansen’s data indicates that the project’s wallets received around $250,000 in ONDO, a token from Ondo Finance, which specializes in tokenization. The backdrop of these transactions is marked by controversy, particularly following a backlash triggered by a strategic partnership between Sun’s BiT Global and crypto custody firm BitGo, the operator of Wrapped Bitcoin. This partnership prompted US-based crypto exchange Coinbase to seek a delisting of WBTC from its exchange due to concerns over Sun’s potential influence and control. Related Reading: Bitcoin May Surge To $200,000 By Mid-2025 Amid ‘Mild’ Price Pullbacks: Report Earlier this month, BiT Global filed a lawsuit against Coinbase in response to the delisting, but a federal judge in California ruled in favor of Coinbase, denying BiT Global’s request for a temporary restraining order. Despite the promotional efforts by Trump and his sons, World Liberty Financial has faced challenges in the market, with sales reportedly falling 93% short of projections. This lack of traction raises questions about the project’s viability and its ability to fulfill its ambitious promises of transforming the financial landscape. At the time of writing, the total crypto market capitalization has fallen to the $3.3 trillion mark, after hitting an all-time high of $3.73 trillion on Tuesday, which also pushed the price of Bitcoin to a new record above $108,000. Featured image from RFI, chart from TradingView.com
The swap took place Wednesday, the same day BiT Global lost a court case seeking to prevent Coinbase delisting WBTC.
Coinbase will likely be able to move forward with its intention to suspend wBTC trading on Dec. 19 following a challenge in federal court.
The announcement comes fresh on the heels of World Liberty’s purchase of $500,000 worth of ENA tokens.
Some crypto community members have criticized Coinbase for not giving technical reasons for delisting WBTC and justifying its decision by citing Justin Sun-linked risks.
The market activity of TRON (TRX) has experienced a remarkable surge, resulting in the company making headlines. In November 2024, TRON achieved an extraordinary $587 billion in USDT transfers, a 30% increase from the previous months. Related Reading: Travala (AVA) Rally: Binance Early Bet And CZ’s Nod Drive 300% Growth This remarkable expansion underscores TRON’s status as a preeminent blockchain platform for stablecoin transactions, which are distinguished by their rapid transaction speed and low fees. TRON’s deflationary model and the growing popularity of stablecoins may pave the way for even more substantial price increases as the cryptocurrency market continues to develop. USDT Transfer Volume on TRON Reaches All-Time High of $587.2B (Monthly) “Stablecoins have seen remarkable growth, driven by strong interest in cryptocurrencies over recent months. TRON has emerged as the leading blockchain for stablecoin transfers. This chart highlights the… pic.twitter.com/150KEggTlK — CryptoQuant.com (@cryptoquant_com) December 14, 2024 Further Growth & Technical Analysis TRON, which is currently trading at $0.279, has demonstrated robust upward momentum following a reversal from a support level of approximately $0.2400, as indicated by recent technical analysis. Analysts anticipate that it will surpass the subsequent resistance level of $0.3200, which previously impeded its price at the beginning of December. The present positive attitude in the crypto markets supports this point of view since it suggests that TRON might keep on its upward path. Given that TRON’s market capitalization currently exceeds $35 billion, its rapid expansion reflects a more general trend of capital moving into established cryptocurrencies as investors search for stability in face of market volatility. Expert Foresees A Promising Future Andrew Griffiths, an expert in cryptocurrencies, thinks that TRON could soon hit $3 to $5. He says that the network’s popularity as a stablecoin and payment tool is the reason for this growth. The rising demand for USDT can help TRON become a bigger player in the crypto world. #TRX TRON is heading towards its apex, once it squeezes at that level, it will blow out, this will happen sooner than later, possibly in the next few months, target is 3-5 USD with an insanely deflationary model and the fastest blockchain for payment processing, nothing is… pic.twitter.com/b0xhgqhABT — Andrew Griffiths (@AndrewGriUK) December 13, 2024 TRON’s recent performance has not gone unnoticed; it has become a darling among investors seeking consistent returns. It is an appealing choice for developers who are designing decentralized applications (dApps) due to its robust infrastructure, which enables thousands of transactions per second. Additionally, TRON is expected to sustain its upward trajectory amid ongoing advancements in the crypto sector, such as technological upgrades and partnerships. Related Reading: Massive Dogecoin Rally Incoming: Bigger And Better Than 2021 — Analyst The Road Ahead TRX lately peaked at $0.45, doubling its valuation over night and raising its market value to $39 billion. With founder Justin Sun’s strategic $30 million investment in World Liberty Financial, the company’s trajectory has improved and TRON is now a major player in the blockchain scene. Featured image from Fast Company, chart from TradingView
BiT Global has filed a lawsuit against Coinbase, the largest crypto trading platform in the United States, according to a Dec. 13 court filing. The Justin Sun-linked crypto custodian alleged that the US exchange unfairly removed wrapped Bitcoin (WBTC) from its platform to favor its in-house product, Coinbase Wrapped Bitcoin (cbBTC). Antitrust violations According to […]
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As the market continues its massive rally, Ukrainian lawmakers are preparing to legalize crypto soon officially. Local reports revealed that the parliament is working on a draft law but is not considering tax exemptions for digital assets. Related Reading: Coinbase CEO Slams Anti-Crypto SEC Commissioner, Urges Senate To Vote Her Out Ukraine Prepares To Legalize […]
As Ethereum broke past $4,000 on December 7th, one notable crypto personality placed a sell order valued at $119.7 million. According to on-chain data, Tron’s Justin Sun completed a transfer of 29,920 ETH to HTX as Ethereum continued its impressive run three days ago. Related Reading: Bitcoin State: Florida Pensions Take $1.85 Billion Leap Into […]
Tron (TRX) joined the crypto market’s rally by jumping over 100% in 24 hours to a new all-time high (ATH). Its surge ignited a bullish sentiment among crypto investors and market watchers, fueling optimism for higher targets. Related Reading: Bitcoin (BTC) Crashes 33% In South Korea Amid Increasing Political Turmoil Tron Hits New ATH After 7 Years As Bitcoin (BTC) continues moving sideways between the $94,000-$96,00 price range, many altcoins have started recording massive rallies. Cardano (ADA) recently reclaimed the $1 mark in a 200% rally, while XRP soared above the $2.5 resistance on a 300% surge. Yesterday, TRX, the native token of the Tron Blockchain, soared 104% intraday to hit its news ATH in nearly seven years. The token moved from its daily low of $0.22 to the $0.29 mark, surpassing its previous high of $0.23. The rally continued with another jump above the $0.30 barrier before climbing to its latest ATH of $0.45 on Tuesday night. The surge saw the cryptocurrency flip some crypto rivals, sending Tron back into the top ten crypto list. According to CoinMarketCap data, TRX’s market capitalization hit over $36 billion, surpassing Toncoin (TON) and Avalanche (AVAX) by this metric. Tron founder Justin Sun highlighted the feat in an X post: 6 years later. Still here. Still #BUIDLing. Things have changed, but one thing hasn’t: #TRON remains a top 10 contender. Since then, Tron has retraced around 20%, hovering above the $0.35-$0.36 zone before falling to the $0.33 mark. Despite the retrace, TRX remained the leading cryptocurrency, with 20% gains in the last 24 hours. TRX’s Rally To Continue? As TRX’s price surged, crypto analyst Javon Mar stated that Tron was “HEAVILY on what can be soon noted as a historical bullish move.” He also suggested that the cryptocurrency’s price was “far from done,” forecasting another massive rally to the $1.1 area. Similarly, another analyst noted that TRX has “finally triggered a MEGA setup from all the way back in 2018 on its dominance chart” against all other Altcoins. And added that Tron has “barely put its running shoes on.” Related Reading: Solana (SOL) Could See A Correction Despite Historic Monthly Close, $400 Still On Sight? The analyst also signaled that a test of the previous ATH was possible as a retest of that level as support could propel the token to $0.50. However, Team LAMBO advised to watch out for the $0.33 level. The analyst stated that Tron was possibly “cooking a massive bull flag on the 15-minute timeframe,” with the bottom trendline between the $0.35-$0.36 price range. A breakout above $0.42 could target the $0.60 barrier while breaking down the pattern and losing the $0.33 support would invalidate it. As of this writing, TRX is trading at $0.33, a nearly 80% surge in the past seven days and a 116% monthly jump. Featured Image from Unsplash.com, Chart from TradingView.com
Some cryptocurrencies are already displaying signs of an early altseason, including Hedera’s HBAR, which has rallied 763% in the past month.
In a November 28th post on Twitter/X, Tron’s Justin Sun shared that he plans to buy up to 100,000 bananas from the same fruit stand that produced the iconic duct-taped banana. The now-popular fruit stand is owned and managed by Shah Alam, located in New York’s Upper East Side. Sun shared that these bananas will […]
Donald Trump’s crypto project is getting a pump from TRON’s founder, Justin Sun. Bloomberg reports that Justin Sun, TRON’s founder, has announced that the company has approved a $30 million investment in Trump’s World Liberty Financial crypto project. Related Reading: Crypto Cowboys Unite: Texas Senator Eyes State Resources For Bitcoin Growth In a Twitter/X post, […]