Justin Sun's Massive BTC Transaction Revealed While Trying to Acquire Germany's Bitcoins!
CryptoQuant CEO Ki Young Ju revealed Justin Sun’s $420 million Bitcoin (BTC) position.
Since February, Tron (TRX) founder Justin Sun has been actively participating in the cryptocurrency market by accumulating Ethereum (ETH).
In this context, CryptoQuant CEO Ki Young Ju recently revealed Justin Sun’s $420 million Bitcoin (BTC) position.
Referencing a June post stating, “Bitcoin whales on HTX opened large long positions at $69,000,” Ki Young Ju claimed that one of these whales is Justin Sun.
The CryptoQuant CEO mentioned that Justin Sun opened a significant long Bitcoin position at $67,000, with the total value of this position being at least $420 million.
Questioning the source of the collateral, the CryptoQuant CEO stated that Sun used stUSDT, his own stablecoin project offering a 46% APY, to finance this position. Ju mentioned that Sun provided $460 million worth of USDT as collateral.
All Data Points to Justin Sun!
Ki Young Ju also noted that 89% of the stUSDT supply is held on HTX. When a user asked, “How can you prove that this person is Justin Sun?” Ju responded that all evidence leads to Justin Sun, explaining as follows:
“It must be Justin Sun since he holds 96% of the stUSDT supply. If not, then it’s customer funds. It could be VVIP customers, but I don’t believe all these customers, holding 89% of the stablecoin supply, would agree to open a $420 million long position within just a week.
It’s also possible that Justin Sun is actively managing customer deposits to maintain a 46% APY. In any case, it’s clear that Justin is involved in this decision-making process.”
Some users on X are speculating that Justin Sun will be the next SBF (Sam Bankman-Fried) and HTX will be the next FTX.
