Sun Yuchen: The rumors of "cash out" are false, and the interaction with USDC Circle is merely internal fund organization and allocation

ChainCatcher news, Sun Yuchen responded to the recent rumors of "transferring 2.36 billion USDC to Circle for cashing out" by stating: "The rumors about cashing out are not true. The transactions with USDC Circle are merely internal fund organization and allocation. There are a lot of repeated calculations in the transfers. As the business continues to improve, the related fund organization and allocation will increase, which is a good thing for the development of the industry."

According to previous reports, on-chain information shows that since the collapse of UST and LUNA on May 12, one address belonging to Sun Yuchen has transferred a total of 2.36 billion USDC to Circle. (source link)