Justin Sun staked 150,000 ETH on Lido Finance

Justin Sun staked 150,000 ETH on Lido Finance

Tron founder Justin Sun staked 150,000 Ether on Lido Finance.

According to data from Lookonchain, Justin Sun has committed 150,000 Ether for a stETH swap on Lido Finance, a linked wallet address. This transaction by Justin Sun has been one of the biggest entries on Lido Finance.

On-chain data platform Lookonchain announced on February 25 that a wallet address allegedly linked to Justin Sun had staked approximately $240 million in Ether, and received the same amount of stETH in return.

Crypto bot Whale Alert, which publishes large crypto data on Twitter, also noted that large amounts of Ether transactions were made by Justin Sun. According to the bot’s data, Sun processed three separate transactions of 50,000 Ether each.

Lido Finance is a protocol that allows users to deposit any amount of Ether and earn passive income. Investors receive the same amount of stETH (the staked Eth token) for the asset they stake.

However, Lido Finance has announced that it has stopped withdrawals until the Shanghai fork, which is scheduled for next month.

Question marks about staking are rising

The US Securities and Exchange Commission’s (SEC) targeting of Kraken’s staking program has raised questions about its staking programs. As Cointelegraph previously reported, Kraken decided to end its staking program for US users and agreed to pay a $30 million penalty to the SEC.

Although this sanction of the SEC does not apply to all staking programs, investors are uneasy about what has happened.

Soruce : https://tr.cointelegraph.com/news/justin-sun-staked-150-000-eth-on-lido-finance

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