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CZ imposes staking ban on Justin Sun

Binance CEO "CZ" threatens Justin Sun with "action" if he farms SUI tokens via the in-house launch pool.

By Mike Hesp
• 1 min read
CZ imposes staking ban on Justin Sun

Binance CEO "CZ" warns Justin Sun against farming SUI tokens through the in-house launch pool.

The head of crypto exchange Binance, Changpeng "CZ" Zhao, has demanded that Tron founder Justin Sun not participate in the recently released SUI launch pool. If Sun tries to farm SUI tokens anyway, his team will take action, CZ said in a tweet on May 1.

View post on X

The Binance launch pool is intended as an airdrop for our private users, not for a couple of crypto whales, he adds.

As of April 30, SUI tokens can be created via Binance’s Launchpool. Investors provide liquidity (in the form of BNB or TUSD) to the pool. In return, they receive SUI tokens as a reward.

View post on X showed Sun transferring more than 115 million TrueUSD (TUSD) stablecoins to Binance this morning.

Sun View post on X said it was a mistake. "Unfortunately, some of our team members were not fully aware of the purpose of these funds and inadvertently used a portion of them to participate in exchanges," the Tron founder stated. Once the error was noticed, he ordered a full reversal of all funds.

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