The fallout of Justin Sun's hostile takeover of the Steem blockchain and attacks on its community continues.
When Justin Sun tricked Binance and some other major exchanges to power-up their liquid Steem and vote out the community elected witnesses, he caused no end of damage and problems to Binance.
First, their Steem was stuck in powered up escrow and would take 13 weeks to get out - a big problem considering customers expect to be able to take their crypto off an exchange at any time.
Second it caused a lot of reputational damage and anger in the large and active Steem / Hive community.
Then later Justin Sun executed HF23 which stole users funds. This put exchanges in a difficult position and undermined what little reputation Justin Sun had left.
Binance said they were opposed to this and would punish Steem by removing listings.
It looks as though CZ has found another way to really hurt Justin Sun.
Binance has just moved a huge amount of $US Tether (USDT) off the Tron blockchain and onto Ethereum.
https://cointelegraph.com/news/trx-in-trouble-binance-moves-300m-tether-from-tron-to-ethereum
While the article doesn't mention the Steem / Hive situation as a reason for Binance doing this, I think its fairly clear from Binance's previous statements and the behaviour of Justin Sun that CZ felt that Tron wasn't safe because its completely controlled by Justin Sun, who has shown himself willing to completely centralise a blockchain and steal user funds.
But its not just about this, its also about really sticking it to Justin Sun by moving the USDT to Tron's arch enemy, Ethereum.
Ethereum's founder Vitalik Buterin was scathing against Justin Sun's attacks on decentralisation and stealing of user funds.
Its pretty clear that what goes around comes around and Justin Sun will be paying for his sins against the Steem / Hive community for a long time.
Would you leave 300M open to Justin Sun?
His problem is not only act as a dictator but act as a stupid dictator. If he wouldn't involved to exchanges in his silly manipulation of the Steem blockchain now he woudn't suffer this consequences, fully deserved btw.
With all the power this people has I really don't understand how they aren't better advised, they are like a monkey with a grenade.
Yep, and having watched the entire thing closely, (nothing else to do because the world shutdown) he could have succeeded if was just a bit more patient. I was holding my breath a few times, he could have won but his knee-jerk totalitarian attitude did him in the end.
They all seem to fall that way.
tron price pretty stable still - think CZ wants to make image damage control. The internet does not forget, and does not forgive easily
All in all the whole Steem/Hive saga has shown the crypto world which of its 'leaders' are more and less ethical than the others. Kudos to CZ, although it's probably simply the only wise move he could've made.