Justin Sun, TRON founder and CEO, appears to be unfazed at his losses of nearly $300,000,000. He has pledged $1 Billion for the fight against FUD.
Justin Sun founder of the TRON Ecosystem, has announced that it will create a $1 Billion Fund to support the development of sustainable technologies. “combat FUD” After experiencing substantial losses as a result of recent market turmoil. The recent turmoil in the market has caused significant losses. an X post Sun, who reassured followers that the industry is thriving on Aug. 5th, said: “grown significantly over the past year, and this market fluctuation isn’t due to negative news.”
“We should reject FUD and keep building. That’s why we’re creating a $1 billion fund to combat FUD, invest more, and provide liquidity.”
Justin Sun
Sun’s pledge is in response to a report published by X Account Spot on Chain. The report revealed that Sun had suffered a $280-million loss due to the recent drop of Ethereum’s price 20%.
Sun has reportedly amassed over 377.500 since February (ETHThe account noted that Sun’s holdings have been devalued significantly as the price of Ethereum is currently trading well below his average purchase price of $3,051. Sun’s investments have devalued considerably as Ethereum currently trades at prices well below Sun’s average purchase price, $3,051.
“We rarely engage in leveraged trading”
During the recent market crash, there were reports that Sun Corporation had been liquidated. TRON’s founder denied the rumors and said that his affiliated companies “rarely engage in leveraged trading strategies because we believe such trades do not significantly benefit the industry.”
“Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, working on projects, and helping project teams provide liquidity.”
Justin Sun
Sun has made headlines before. Early in July, the German government announced that it would be relocating to Berlin. began The liquidation of thousands Bitcoin confiscated (BTC), Sun publicly declared The following is a list of the most recent and relevant articles. “willingness” Negotiate a direct buy to minimize market impact. Bitcoin fell to below $55,000 despite Sun’s pledge. It is unclear whether Sun has engaged the German authorities in this matter.
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Source: crypto.news