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Justin Sun, founder and CEO of Tron, quoted a retweeted tweet stating that he and Vitalik (co-founders of Ethereum) will invest $2 Billion.
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Wrapped Ethereum Foundation (WEF), which will receive all funds, will accept investments.
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Justin Sun replied to a tweeter who said that WEF's CEO had announced that he would raise $2 billion to fill the hole.
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False rumors started spreading about the insolvency of WETH on November 26th.
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They claimed that WETH was insolvent and wasn't backed 1:1 with Ether (ETH).
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Some people took the joke about "insolvency" as accurate. Later, influencers clarified that it was just an "insolvency" joke.
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Richard Heart tweeted this joke, stating that "there's a joke going around about #WETH" "depending on #ETH."
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Coinmarketcap reports that WETH has fallen 3.93% over the past 24 hours. The WETH price at press time is $1,170.29 US Dollars.
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