The crypto community is raising questions over the relationship between the Binance exchange and USDJ, a stablecoin linked to TRON founder Justin Sun, amidst ongoing investigations on both. Many are wondering if CZ’s empire is in danger as Binance faces multiple legal battles.
Binance's continuous support for TrueUSD (TUSD) has also triggered concerns within the crypto community. The exchange has been sued by the Commodity Futures Trading Commission (CFTC) for violating regulations, which raises doubts about its transparency and trustworthiness.
Despite these issues, Binance recently announced that it is adding more TUSD trading pairs including XRP, Solana, Matic, SSV, Lido DAO and Optimism. According to the announcement made on March 29th, users can start trading them immediately - further fueling suspicions from critics of its business practices.
As investigations continue into both Binance and USDJ's operations amid regulatory scrutiny across several jurisdictions worldwide; cryptocurrency enthusiasts are questioning whether CZ’s empire may be in jeopardy due to possible links with questionable actors such as Justin Sun.
Many in the industry feel that this situation highlights an urgent need for greater regulation of cryptocurrencies exchanges like Binance who operate outside traditional banking systems while still providing vital financial services to millions of people worldwide.
Only time will tell how this story unfolds but one thing seems certain: The crypto community will continue watching closely as events unfold around these two entities linked together through their shared interests in digital assets.