Sun Ge, known for his significant crypto movements, recently transferred 18 million TUSD coins from his wallet (0x9FC…c19Fe) to a new address.
This action follows the U.S. Securities and Exchange Commission’s (SEC) settlement announcement with TrueCoin LLC and TrustToken Inc., companies involved with the TUSD stablecoin. The settlement involved a $700,000 fine for misleading investors by falsely claiming full backing of TrueUSD with U.S. dollars and engaging in risky investments.
孙哥地址 0x9FC…c19Fe 五分钟前向一新地址转移了 1800 万枚 $TUSD ，这是要去做什么？🤔
今天早上 SEC 刚宣布与 TrueCoin 和 TrustToken 达成和解，涉及 TUSD 稳定币的公司罚款 70 万美元，会和这件事有关吗
钱包地址 https://t.co/aN1SnquzHi pic.twitter.com/aiZkrTMep6
— Ai 姨 (@ai_9684xtpa) September 25, 2024
The SEC accused the firms of mishandling investor trust, leading to penalties of $163,766 each and a further $341,000 in disgorgement from TrueCoin. Both companies settled without admitting or denying the allegations.
The U.S. Securities and Exchange Commission (#SEC) settled charges with TrueCoin LLC and TrustToken Inc., accusing them of misleading investors about the stablecoin TrueUSD ( $TUSD ) by not fully backing it with $USD and involving it in risky investments.
Both companies agreed… pic.twitter.com/2njqxzX7Om
— CryptoTvplus (@Cryptotvplus) September 25, 2024
Sun Ge Moves 72 Million TUSD To Four New Addresses
Sun Ge’s transfers have caught attention because, in total, he has moved 72 million TUSD to four new addresses, while his original wallet still holds TUSD worth approximately $175 million. Initially, the wallet contained 247 million TUSD, raising speculation about his intentions. Could this be the precursor to a short position in TUSD?
更新：过去 15 分钟孙哥已向 4 个新地址累计转移 7200 万枚 $TUSD 🔍
孙哥该地址原本持有价值 2.47 亿美金的 TUSD，目前仍剩余 1.75 亿枚代币，这是打算转空的节奏吗？https://t.co/aN1Snqv7wQ https://t.co/asRakCXLF7 pic.twitter.com/e1VU5k6l9Z
— Ai 姨 (@ai_9684xtpa) September 25, 2024
The timing of the transfers coincides with the SEC’s announcement, which could indicate Sun Ge is positioning himself ahead of potential market shifts. Given the stablecoin’s involvement in controversy, some investors might be expecting volatility, possibly paving the way for shorting opportunities. However, it remains unclear whether Sun Ge’s move signals a direct short strategy or simply a strategic reallocation of assets.
With the market closely watching TUSD following the SEC’s actions, Sun Ge’s massive transfers could reflect either a cautious repositioning or a calculated bet against the stablecoin. Time will tell whether this is a prelude to further market maneuvers. Investors are watching closely, as his next steps could indicate broader market sentiment surrounding TUSD.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!