It seems that the man behind the legendary altcoin TRON, Justin Sun, is in the cryptocurrency news every single week. This week, we are seeing reports that show that Justin Sun has spent more than $20 million to supposedly gain the likes of new Twitter followers.
Sun has been bidding for even more recognition from the Twitter world by organizing an airdrop that is supposedly worth $20 million – which is not the reason he is giving things publicly.
As his recent tweet reads:
“To celebrate BitTorrent Token & Tether – TRON success, I am planning a USD 20 million free cash airdrop. Good news – it’s coming, bad news – I may decide to give away more! First, I will randomly pick 1 winner for a Tesla up until 3/27! To apply, follow me and RT this tweet! Simple!”
Obviously, the celebration might be the main reason for this giveaway. However, Justin Sun has been on the hunt for more followers on Twitter for a while, overtaking many project leaders behind some of the biggest altcoins in the top 20 . He has also paid big sums to promote his profile and was very delighted when he overtook Ethereum’s co-founder and main political figure Vitalik Buterin in terms of the follower count.
Ultimately, this giveaway may see Justin Sun reach the one million goal in terms of followers. Right now, Sun has around 950,000 followers which are increasing by the minute. Even though these followers don’t care much about his personal reasons, they are still in the loop.
As one Twitter user with a handle @SmokeyXBT wrote:
“Still not exactly sure how BTT was a success but as long as he gives away money I don’t care what his definition is.”
What is also interesting are the rules of the competition which are yet to be released. Even though many speculate that a single winner may take the $20 million USD worth in the airdrop, others claim that the winnings will be divided by some criteria.
Like him or not, Justin Sun is always doing his best to promote cryptocurrencies, promote TRON and in every single way get more followers to his work.
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“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi. “The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news. Two other addresses were also reported by many best cryptocurrency news sites - showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges. Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
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MakerDAO Token Holders Vote On Whether To Lower Stability Fees By 2%
"The Maker Foundation Interim Risk Team has placed an Executive Vote into the voting system, which will enable the community to enact a new Dai Stability Fee of 17.5%. The Executive Vote (FAQ) will continue until the number of votes surpasses the total in favor of the previous Executive Vote. This is a continuous approval vote," is what the announcement shared in our latest cryptocurrency news notes.If the decision is approved and the vote comes out positive, the proposal would decrease the stability fee by 2% to 17.5% per year. As the announcement outlined, the need to decrease the fee was discussed by the project's governance and now the MakerDAO token holders need to decide on it. For those of you who don't know, MakerDAO is looking to change the yearly stability fee in an attempt to improve the token's peg to the US dollar - especially after the exchange price has been hovering above the $1 level. The stability fee was a hot topic in the altcoin news and is seen as a charge that is levied by Maker participants when DAI is used for loans. In March, the MakerDAO token holders already decided to raise the stability fee (even twice), first to 3.5% and then to 7.5% per year. In April this year, this fee was further increased by another four percent in the fifth such vote this year which brought it down to 11.5%. The further votes brought the rate up to 19.5% at the beginning of the current month. As we already reported (and many best cryptocurrency news sites did too) at the end of the previous month, DAI has been struggling to maintain its peg. Aside from the MakerDAO token holders and their decisions, the president and chief operating officer claimed that DAI's value had been stabilized as of the beginning of May. On top of this, at the end of April, the chief technology officer at MakerDAO, Andy Milenius, published an open letter dated April 3 to explain his concerns over the project's internal conflicts.
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