Never one to pass up a marketing opportunity, Justin Sun has stepped into the breach to offer CZ and Binance a helping hand. I can see the comic book headline “Binance hacked Justin Sun to the rescue” getting kids around the world admiring this new superhero as he swoops in to save the day.
Binance hacked Justin Sun to the rescue
— Justin Sun (@justinsuntron) May 8, 2019
The irony of this tweet was not lost on the Twitterati with the much maligned (and as previously posted clear cut case for delisting under Binance’s own terms) USDT being offered as the savior. With the recent admission by Tether that USDT isn’t backed 1:1 by USD deposits as they have, until recently, always claimed, sarcasm/comedy was to be expected, and received
This tweet is only 74% backed
— ⛏Crypto Christopher Walken🥃 (@cryptochrisw) May 8, 2019
Quite apart from the currency chosen to offer, the tweet shows a “clever” advertising motive, with Justin offering to use the deposited “funds” to buy two of his own coins as well as the Binance owned BNB and Bitcoin. One has to ask (and people did) how Justin thinks that this would help cover the 7000 Bitcoin loss?
Whilst the offer to buy others coins looks hilarious on the face of it, this is actually a truly worrying statement as it suggests market manipulation of the highest order, as some were quick to point out (some more politely than others):
Imagine giving so little fucks you openly admit to market manipulation on Twitter as a flex.
— DonAlt (@CryptoDonAlt) May 8, 2019
Not gonna lie this sounds shady
— Big Cheds (@BigCheds) May 8, 2019
So now we just throw 40 million dollars around like it is nothing. Meanwhile CT wonders why the rest of the world thinks crypto is a joke.
— RJ (@rjr13579) May 8, 2019
All he said he would do is deposit USDT and buy coins he already has a vested interest in. Read closer. Everyone lining up to fellate Justin over this "good deed" is missing the true intention behind this nonsense: Marketing.
— Hrafnagaldr (@Hrafnagaldr1) May 8, 2019
Justin Never leaves a marketing opportunity to pump his coins – Hope this was a pump attempt, not reality.
Because tron is able to pull out 40 Million worth USDT – This will look shady asf.
— Crypto India (@CryptooIndia) May 8, 2019
in the real world you should go to prison immediately, this is market manipulation announcement nothing else, thats why people afraid of crypto!
— The Bitcoin News 🚀₿ (@TheBitcoinNews) May 8, 2019
Today’s events are likely to have a long run on social media and possibly even in mainstream media. CZ having let the cat out of the bag in terms of widespread knowledge of turning back the clock on Bitcoin transactions hasn’t gone down well among the maxis. And to top things off Justin Sun’s help/manipulation offer has capped another round of shady USDT offerings for the world to dissect.
The question remains, what is truly #SAFU and how much do they want you to believe it?