There is information that Tron (TRX) founder Justin Sun may exchange Bitcoin for Wrapped Bitcoin.
An anonymous cryptocurrency wallet believed to belong to a whale suddenly purchased a large amount of Wrapped Bitcoin (WBTC).
According to sources, this whale bought 347 WBTC, worth about $16 million, and in total accumulated 1,953 WBTC from the Binance exchange, for a total value of about $118 million, at the average price $58,853 last week.
Data from EmberCN shows that, while this anonymous whale continued to buy WBTC, Justin Sun's wallet address transferred 2,590 BTC, or $156.41 million, to Binance.
This transfer has attracted attention in the community and raised questions about whether Justin Sun's team is converting BTC to WBTC.
Immediately after the announcement of the change in WBTC management, Sun's wallet address transferred a total of 2,590 BTC (worth $156.41 million) to Binance. At the same time, a new address on the Ethereum chain began withdrawing WBTC from Binance and has so far withdrawn a total of 1,953 WBTC, worth $117.78 million.
Based on the timing and purpose of these actions, it is highly likely that Sun's team is performing a BTC to WBTC swap.
Platform Spot On Chain suggests that Sun may be performing a Bitcoin to Wrapped Bitcoin swap, based on transactions involving large amounts of Bitcoin and WBTC.
In August, BitGo, the team behind WBTC, announced plans to transfer control of the token to a joint venture, consisting of itself, Hong Kong-based investment manager BiT Global, and Tron ecosystem led by Justin Sun.
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