The TRON DAO Reserve, which controls stablecoin USDD, just tweeted that it is withdrawing 2.5 billion TRX from Binance to “defend the global blockchain sector and crypto market.”
In this regard, the TRONDAO reserve disclosed two unique WhaleAlerts transactions in two consecutive tweets.
The first transaction was the transfer of 339,999,999 TRX (16,960,959 USD) from Binance to an unknown wallet, while the second involved the transfer of 499,999,999 TRX (25,173,868 USD) from Binance to an unknown wallet.
Earlier last week, Tron DAO Reserve announced that 700 million USDC (almost $700 million) had been put into TRON DAO Reserve to defend the USDD peg. In addition, another $100 million USDC was put on Binance to purchase additional TRX, according to a tweet.
Tron creator Justin Sun revealed yesterday that the TronDAO reserve acquired an additional 500 million USDC to protect the USDD peg.
As previously reported, Tron DAO reserve claimed that it had boosted the 650 million USDC supply on Tron by $2.5 billion. It claims to have done so to “protect the entire blockchain sector and crypto market.”
Tron has been fighting to preserve its ecosystem since the beginning of the week, when Tron creator Justin Sun stated that the financing rate for shorting TRX on Binance has plunged to a negative 500 percent APR. As a result, he asserted that the Tron DAO Reserve has spent $2 billion USD to combat the “huge shorts.”
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