In our new 2-minute review for the 99Bitcoins YouTube channel, we talk about Justin Sun, the brains behind the Tron (TRX) and BitTorrent blockchains and is a pretty damn controversial figure. Sun also has a highly watched crypto portfolio rivaling Vitalik Buterin and Elon Musk.
In this 99Bitcoins episode, we’ll explore Justin Sun’s holdings and who the Joker of crypto is in two minutes.
Who is Jack Ma’s Protege Justin Sun?
Justin Sun, chosen by Alibaba’s Jack Ma, was among 30 students recruited to drive change in the Chinese corporate sector.
In his thesis, “The Birth of a Decentralized Internet,” Justin Sun explored blockchain’s potential before graduating from Hupan University in 2018.
Before graduating, Justin Sun founded the Tron blockchain in 2017, a rival to Ethereum.
Major update on the Tron network—stay tuned!👀
— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 12, 2024
Today, Tron is the leading platform for transferring the stablecoin Tether (USDT) globally.
Besides their accomplishments, Justin Sun has a list of controversies, including wash trading schemes. According to a polarizing article from the Verge, Sun directed his Beijing team to manipulate the Tron price using insider information, buying before announcements, and selling for a profit.
The article also alleges Sun was obsessed with avoiding taxes, spreading his wealth across multiple bank accounts worldwide to avoid anti-money laundering laws.
Lastly, the Verge argues Sun became Grenada’s ambassador to the WTO, possibly to gain diplomatic immunity, and used this role to promote Tron and even engage with Russia during its invasion of Ukraine.
Sun sued the Verge, but many in the crypto community debate who is in the right and wrong here.
READ MORE: The 12 Next 100x Cryptocurrency in 2024
So What Does Sun HODL In His Portfolio?
Now that we’ve dealt with the many controversies, Justin Sun’s crypto holdings total $1.03 billion, and at their peak, they were worth $7 billion. His portfolio includes $276 million in the stablecoin USD, $238 million in Tron, and $117 million in the peer-to-peer file-sharing cryptocurrency BitTorrent (BTT).
Additionally, Sun holds $98 million in Bitcoin, $11.56 million in meme coins Shiba Inu and $5.63 million in Floki, $9.22 million in Ethereum, and has an NFT portfolio valued at $8 million.
We wrote an article last month about Sun receiving an $8.75 million airdrop of EigenLayer, a DeFi project, and immediately dumped all of it, profiting $22 million.
Anyway, that’s all we have for Justin Sun—he’s a shady character but one with tremendous influence on the cryptocurrency markets.
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