HTX Snapshot Unveils Justin Sun’s $1.6 Billion Bitcoin Portfolio

Tron creator Justin Sun revealed his Bitcoin investments on the social media network X by posting a screenshot. In the image, Sun disclosed his HTX account holds 28,614 Bitcoin, valued at $1.6 billion.

Sun took to social media platform X to share his perspective: “While I actively use various major exchanges and endorse them, it’s inaccurate to claim I rarely use I am a dedicated user of HTX, just like any other HTX user, with faith in its capabilities for trading.”

China-born entrepreneur Justin Sun serves as an advisor for the cryptocurrency exchange HTX, previously recognized as Huobi Global. Recent developments have revealed that HTX retracted its application for a license on February 23, as noted in a document available on the Securities and Futures Commission website. The exchange has yet to provide an explanation for this withdrawal.

Sun Withdraws Altcoins Valued at $60M Over a Month

In January, it was reported by Sujha Sundararajan at Cryptonews that Sun withdrew altcoins worth $60 million from the cryptocurrency exchange Binance within a month.

According to Lookonchain data, Justin Sun withdrew the highest amount in Ethereum, totaling $43 million. This was followed by withdrawals of $6.7 million in Aave, $6.3 million in Shiba Inu, and other assets like Chainlink and Decentraland. Lookonchain, an on-chain intelligence provider, stated, “Since Dec 18, 2023, Justin Sun has withdrawn $60M assets from Binance.”

On December 18, a wallet associated with the cryptocurrency billionaire recorded withdrawals of 500 billion SHIB, valued at $5.1 million. The following day, the same wallet executed another withdrawal of 70 billion SHIB, worth around $900,000. This activity was reported shortly after the HTX exchange and HTX DAO experienced a distributed denial-of-service (DDoS) attack.

Sun Sued by SEC

In March of last year, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Tron founder Justin Sun, accusing him of fraud, market manipulation, and distributing unregistered securities through airdrops. The SEC claimed that Sun and his three wholly-owned companies – Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent) – were involved in the unregistered offering and sale of crypto asset securities, specifically Tronix (TRX) and BitTorrent (BTT).

Furthermore, the SEC accused Justin Sun and his companies of engaging in fraudulent manipulation of the secondary market for TRX by conducting extensive wash trading. This practice, which involves making simultaneous or nearly simultaneous purchases and sales of a security to create the illusion of active trading without any real change in ownership, was used to artificially inflate TRX’s market activity. Additionally, the SEC alleged that Sun orchestrated a scheme to compensate celebrities for promoting TRX and BTT without properly disclosing the payments. These allegations were detailed in a press release issued by the SEC.

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