The man behind the TRON blockchain, Justin Sun, has disclosed that he owns $1.6 billion in Bitcoin on HTX, a cryptocurrencycurrency exchange, and on which he is an advisor. Sun made his disclosure via a screenshot that was posted on X and showed that his HTX wallet contained about 28,614 Bitcoins.
Regulatory Shadows and Skeptics
Sun’s public statement seeks to refute rumors that he uses HTX infrequently by highlighting his usage of the platform as a “heavy user.” Sun responded, “For those stating I’m not utilizing HTX much,” highlighting his widespread support and involvement in the ecosystem of bitcoin exchanges.
However, this action takes place in the midst of public scrutiny. The Securities and Exchange Commission (SEC) has been investigating Sun for possible fraud and securities law breaches, including claims that it organized trading volume manipulation schemes and sold unregistered securities.
In addition, Sun’s partnership with HTX—previously called Huobi before its rebranding—indicates the exchange’s attempts to shift its focus to foreign markets in the face of regulatory obstacles. His substantial Bitcoin investment demonstrates HTX’s aspirations in the international market, even in light of the legal disputes involving its advisor.
With this statement, Sun hopes to draw attention to the ongoing interaction between pioneers in the cryptocurrencycurrency space and oversight authorities, which is a dynamic story in the world of digital currencies.
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