TRON Whale Withdraws Almost $1B From JustLend

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A Tron whale wallet (TGfWK) withdrew 15,000 Tron BTC, or just over $936M worth from Tron’s leading money market platform, JustLend. The initial deposit was made way back in August 2022, with 60,000 BTC worth $1.3B at the time. Today, the entire position is worth $3.744B, a 188% return on their investment.

The scale of this transaction is significant, as "whales" moving assets of this magnitude can impact platform liquidity and market sentiment. The 188% return on the initial investment also highlights the substantial gains possible within the decentralized finance (DeFi) ecosystem, especially for large, patient capital holders.

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Immediately after withdrawal, the BTC gets transferred to a second wallet (TAyZr), where it is redeemed into native BTC via a transfer to a Black Hole Address (T9yD1) controlled by the Tron Foundation. Interestingly, the second wallet (TAyZr) once received a transfer of 90 BTC from Justin Sun in October 2023. While this does not necessarily imply ownership, it suggests some connection between Sun and this Tron whale.

This "redemption" process is a key part of how cross-chain wrapped assets work, allowing the holder to "unwrap" their Tron-based BTC back into Bitcoin on its native blockchain. The on-chain connection to Justin Sun, Tron's founder, naturally sparks discussion, as the activities of major ecosystem players are always closely monitored by analysts.