Summary:
- TRON founder Justin Sun pledges $1 billion to combat FUD after $300 million losses.
- Sun reassures followers that market turbulence is not due to negative news.
- Reports suggest Sun suffered a $280 million loss due to Ethereum’s price plunge.
- Sun denies engaging in leveraged trading and focuses on supporting the industry.
- Sun expresses willingness to negotiate with German government regarding Bitcoin purchases.
Justin Sun’s $1 Billion Pledge
TRON founder Justin Sun remains undeterred by losses, announcing a $1 billion fund to combat FUD after experiencing significant market turmoil. Sun emphasizes the industry’s growth and aims to provide liquidity through the fund.
Losses Due to Ethereum Price Plunge
Recent reports indicate that Justin Sun suffered a loss of approximately $280 million as a result of Ethereum’s 20% price drop. Sun’s holdings in Ethereum, acquired at an estimated cost of $1.15 billion, have decreased in value significantly with the current market conditions.
Sun’s Approach to Trading and Support
Despite rumors of liquidation and leveraged trading, Justin Sun clarifies that his affiliates rarely engage in such strategies. Instead, Sun emphasizes activities like staking, running nodes, and supporting projects to benefit the industry positively.
Sun’s Interaction with German Government
In response to the German government’s Bitcoin liquidation, Justin Sun publicly expresses willingness to negotiate a direct purchase to mitigate market impact. However, Bitcoin’s price continued to fall, leaving uncertainty about Sun’s engagement with German authorities.
