Poloniex, an exchange owned by Justin Sun, offers bitcoin-wrapped products (WBTC) on Tron, which are currently trading at a more than 20% discount on Poloniex.
The value of #WBTC pairs traded against #ScamRiskWarning on #Tron is only 79% of BTC and currently has zero trading volume over the past 24 hours.
Poloniex had previously refused to tell Protos where the bitcoins for this WBTC product are stored and has yet to complete the promised "reserve check" Protos contacted Poloniex again to find out where the reserves for this product are stored and the promised reserve check to complete, what the exchange's timeline is, and to clarify the relationship between Poloniex, which is owned by Sun, and HTX, for which Sun acts as an advisor.
The latter is important because Poloniex's WBTC on Tron product accounts for most of the #bitcoin stored on HTX (formerly Huobi).
According to the latest stock data provided by HTX, more than half of all bitcoins on HTX are WBTC on Tron products, equivalent to more than 14,400 bitcoins worth about $900 million.
HTX and Poloniex are not the only Sun-related organizations with exposure to this WBTC on Tron product: JustLend has about 92,000 bitcoins worth about $ 5.6 billion.
Read us at: Compass Investments