Ethereum

Tron (TRX) founder Justin Sun, who has been accumulating Ethereum (ETH) since February, has been actively involved in the cryptocurrency market.
At this point, CryptoQuant CEO Ki Young Ju announced Justin Sun's $420 million Bitcoin (BTC) position in his last post.
June's “Bitcoin whales on HTX opened long positions at $69K.” Quoting his post, Ki Young Ju claimed that one of these whales was Justin Sun.
He said that CryptoQuant CEO Justin Sun opened a significant long Bitcoin position at $67,000 and that the value of this position was at least $420 million in total.
Questioning the source of this collateral, CryptoQuant CEO Sun used stUSDT, his own stablecoin project that offers 46% APY, to finance this position. He said that Ju Sun pledged $460 million USDT as collateral.
All Data Points to Justin Sun!
While Ki Young Ju also pointed out that 89% of the stUSDT supply is held in HTX, one user asked, “how can you prove that this person is Justin Sun?”
Ju responded to this question by stating that all roads lead to Justin Sun:
<blockquote>
 “It must be Justin Sun since he holds 96% of the stUSDT supply. If not, then it's client funds. There may be VVIP clients, but I don't think all of those clients who hold 89% of the stablecoin supply agreed to open $420 million long positions in just one week .
 It's also possible that Justin Sun actively manages customer deposits to maintain a 46% APY. “In any case, it seems clear that Justin was involved in this decision-making process.”
</blockquote>
Some users on X also started speculating that Justin Sun would be the next SBF and HTX would be the next FTX.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 It must be Justin Sun, as he holds 96% of the ERC-20 <a href="https://twitter.com/search?q=%24stUSDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$stUSDT</a> supply. If not, then it's customer funds. They might have VVIP clients, but I don't think all these customers holding 89% of the stablecoin supply agreed to open $420 million of long positions within just a week.
 — Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1811447599611937261?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 11, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*Not Investment Advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/huge-btc-transaction-of-justin-sun-who-tried-to-buy-germanys-bitcoins-was-revealed/" rel="noopener noreferrer nofollow">Huge BTC Transaction of Justin Sun, Who Tried to Buy Germany's Bitcoins, Was Revealed!</a>

Huge BTC Transaction of Justin Sun, Who Tried to Buy Germany's Bitcoins, Was Revealed!

Bitcoin Sistemi EN

Weitere Artikel, die am 11. Juli 2024 veröffentlicht wurden

Easy Bulk NFT Transfers Made for Beginners

Bitget To List The First BGB Perpetual Futures With Up To 50x Leverage

SEC Faces Backlash from Uniswap Labs Over Proposed DeFi Regulations

July 2024’s Standout Crypto Projects

Fastest Growing Crypto ICO Pepe Unchained Hits $3 Million - The Frog Meme Coin Gets Its Own Block...

XRPL Accelerator Launches New Cohort of Innovative Blockchain Projects

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!