Justin Sun Net Worth, Crypto and NFT Investments

Justin Sun is well-known as the founder of Tron and an advisor to Huobi. The net worth of Justin Sun is estimated to be around $200 million. His wealth was estimated to be around this based on his crypto holdings. According to his public wallet, the net worth of Justin Sun is dominated by his holding of Ethereum, Tron, AVA, MATIC, BNB, and many others.

Justin Sun as a tech entrepreneur invested in projects like Tron, BitTorrent, Poloniex, and Huobi. He started investing in BTC between 2010 to 2013. He was compelled to flee China for holding an ICO a few days before an impending ban by the Chinese government. Sun held the ICO days before the ban came into play with Binance CEO, Changpeng Zhao tipping him about the proposed ban. It was then that speculations about his relationship with the Binance CEO first surfaced.

There are various reports that attempt to link a relationship between Justin Sun and Changpeng Zhao. In 2019, the rumors intensified when the two went on a vacation. Though Changpeng Zhao downplayed the rumor, claiming the vacation was only a business trip. Justin Sun is presently facing a lawsuit by the U.S. Securities and Exchange Commission for selling unregistered tokens.

Justin Sun’s Net Worth

Early Life

Justin Yuchen Sun was born on July 30, 1990, in Xining, Qinghai, China. He grew up in China but relocated to America later on. Due to that, he holds an American citizenship. He enrolled at Peking University in 2007, one of the foremost institutions in China. Peking University played a significant role in numerous intellectual movements in China. In 2011, Justin Sun graduated from Perkin University bagging a Bachelor of Arts degree with a major in History. Similarly, Justin Sun became a cover figure for Yazhou Zhoukan in 2011.

Thereafter, he proceeded to Pennsylvania State University. He earned a Master of Arts degree in East Asian studies from the University of Pennsylvania in 2013. Also, he studied at Zhejiang Hupan Entrepreneurship Research Center belonging to Jack Ma. During his time at the University of Pennsylvania, Justin Sun learned about Bitcoin. Then, he invested in Bitcoin, and even at some point, Justin Sun paid his tuition from the returns of the investment.

During this period, he had started creating a name for himself as a crypto enthusiast. His active role In the crypto space earned him an employment opportunity with Ripple. In 2013, Ripple Labs employed Justin Sun as a chief representative and adviser. By that virtue, he became the first employee of the firm in the region of Great China. However, Justin Sun had the spirit of an entrepreneur burning in him. His solidity and courage provided him with the confidence to establish several businesses. This earned him due recognition as an innovative young entrepreneur.

In 2014, he founded a social media platform known as Peiwo. The platform is regarded as a Chinese voice-based social networking app. It shared a similar concept with Snapchat. Remarkably, the application gained massive recognition among youth in China earning it more than 10 million downloads. The success of this application earned him recognition as a Davos Global Youth Leader in 2014. More so, in 2015, China Network Television named Justin Sun as its “Most Noteworthy New Entrepreneur.” His fame grew across the globe, most especially in Asia. Between 2015 to 2017, Forbes listed Justin Sun on its list of “ Asia 30 Under 30” high-achieving entrepreneurs.

Tron Project

In 2017, Justin Sun founded the Tron Blockchain. The network launched alongside its native token TRX. In September 2017, Justin Sun organized an Initial Coin Offering (ICO) for the TRX tokens. Meanwhile, the event was held under a dark cloud due to news about an impending ban on ICOs by the Chinese government as a result of its general crackdown on cryptocurrency. Then, the Chinese government termed ICO as an avenue for financial fraud, pyramid schemes, and other illegal and criminal activities.

However, Justin Sun held the ICO shortly before the ban came into play. According to reports, Sun had first-hand information about the proposed ban, thus compelling him to schedule the ICO early to beat it. Everything worked as intended as Justin Sun realized roughly $70 million from the ICO. Afterward, like most crypto businesses in China then, Justin Sun relocated his business to the United States. Reports indicated that the CEO of Binance, Changpeng Zhao (CZ)  hinted Justin Sun about the ban. CZ himself got to know about the ban due to his connection. There are numerous efforts to establish a kind of closeness between Justin Sun and Changpeng Zhao. However, the latter has, on numerous occasions, downplayed sharing any personal ties with the former.

During the ICO, 15.75 billion TRX were allotted to private investors, while initial coin offering participants were offered 40 billion TRX. In addition, the Tron Foundation got 34 billion TRX, while Justin Sun got 10 million. Through this distribution system, about 45% of the token supply went allocated to the project and its founder. This method was criticized for favouring the founding team more. They argued that no founding team of any crypto project enjoyed much token allocation like that of TRX. It is worth mentioning that the net worth of Justin Sun gained much weight owing to the TRX token allocated to him. In fact, the success of the project placed him among notable names In the crypto industry.

Initially, the TRX tokens were deployed on the Ethereum network, therefore making them ERC-20 standard. The tokens switched to the Tron network in 2018. Tron surfaced as a project with the desire of recognizing the full ownership rights of content creators over their virtual works. Consequently, the network aims to incentivize content creators and encourage them to create more. The TRON blockchain claims to have a network strength that can process 2,000 transactions per second.

In 2018, Justin Sun through the TRON Foundation acquired BitTorrent. At this point, the project gained massive attention in the crypto market. By 2019, the TRON network recorded a market cap of $1.6 billion. During that period, the net worth of Justin Sun gained a significant boost. However, several reports alleged that Justin Sun through his TRON and BitTorrent team ran an insider trading scheme on TRX through its Beijing office. They alleged that Justin Sun employed David Labhart, a lawyer and a member of the United States Securities and Exchange Commission (SEC) compliance team to help him evade legal troubles. David Labhart worked with the firm for a while but later resigned owing to a disagreement with Justin Sun.

In March 2023, the SEC filed a lawsuit against Justin Sun and Tron for selling unregistered securities. This is in reference to the sale and promotion of Tronix (TRX) and BitTorrent (BBT) tokens. In the lawsuit, the regulator alleged that TRON and its CEO engaged in Wash trading. Also, top celebrities like  Akon, Ne-Yo, Austin Mahone, Soulja Boy, Lindsay Lohan, Jake Paul, and Lil Yachty were sued too. The SEC charged them for promoting the tokens without explaining that they were sponsored. All of them excluding Soulja Boy, and Mahone settled out of court with regulators without admitting or denying the charges. Though, they paid $400,000 each as a fine.

BitTorrent and Poloniex

The success of Tron provided Justin Sun with the financial backing of acquiring BitTorrent (Rainberry). In June 2018, he completed the purchase of BitTorrent for $140 million. BitTorrent is a peer-to-peer communication platform. The firm (Rainberry) that created BitTorrent was founded in 2004 by Bram Cohen and Ashwin Navin. The company was sold to Justin Sun due to the financial crisis that ravaged it. 

As reported, at the first executive meeting involving some BitTorrent executives which Justin Sun retained, the tech entrepreneur referred to his team members as Mao Generals. He referred to himself as General Mao. The claims triggered uneasiness among those present owing to how General Mao Generals were killed.

Under the leadership of Justin Sun, BitTorrent launched its utility token, BTT. The token was launched on the Tron Blockchain, employing its BRC-20 standards. The idea of designing a utility token surfaced due to the number of users BitTorrent had then. According to reports, the platform had about 100 million users as of when the token was launched.

In 2019, Justin Sun acquired Poloniex from Circle through an Asian consortium of Investors. At first, Justin Sun denied acquiring the exchange. Later on, he admitted his involvement in the deal. Though, he argued that it was part of his investment group. During this period, the reputation of Poloniex was ruined by pump-and-dump groups on Telegram and Discord manipulating the exchange’s market. Thereafter, Justin Sun moved Poloniex’s headquarters to Seychelles due to the soft crypto regulation in the country.

Initially, the cryptocurrency exchange was founded in 2014 by Tristan D’Agosta. Shortly after it was established, it attracted many users because it offers trading options on a variety of tokens. In 2018, Circle acquired the exchange for $400 million before selling it to Justin Sun’s consortium. At some point, reports revealed that Justin Sun relaxed KYC regulations to attract new users and projects. Also, it was alleged that Justin Sum demanded the ownership of misplaced customers’ funds that were mistakenly sent to the wrong addresses.

USDD Stablecoin

In April 2022, Justin Sun revealed plans to launch an algorithmic stablecoin known as Decentralized USD or USDD. The tech entrepreneur noted at that time that it would require an automated balancing system that burns $1 worth of TRX to mint 1 USDD. Due to that, Justin Sun established the Tron DAO Reserve. The body is saddled with the responsibility of managing the stablecoin and ensuring it maintains its peg. Later, On May 12, the stablecoin launched fully with 116,720,006 USDD released for circulation.

📢 #USDD, as the decentralized algorithmic stablecoin based on #TRON, has been officially launched and entered into circulation!
It is also available on #Ethereum and #BNBChain now.

🔥 Together we witness the #StableCoin 3.0 era led by #USDD is coming!https://t.co/CZjLJt7KSW pic.twitter.com/msI8CNgvnk

— USDD (@usddio) May 5, 2022

To attract users, the USSD is designed to offer users a 30% return for staking USDD. Meanwhile, critics faulted the design of the project. They argued that the USDD is similar in design to the UST. However, when UST lost its peg in May 2022, USDD experienced a similar fate the following month. It took the swift intervention of Tron DAO Reserve to reimburse $650 million worth of USDC into USDD’s collateral reserve. The intervention stopped the algorithmic stablecoin from dipping further from the 9% fall it recorded.

Consequently, the USDD team decided to overcollateralize the stablecoin by using Tron, Bitcoin, USDC and USDT as a collateral. Further, the team set the minimum collateral ratio of the stablecoin to 130%. The collateral ratio was aimed at ensuring that the USDD reserve is more valuable than the total token in circulation. Nevertheless, the USDD team perceived the stablecoin reserve to be low, thus, setting their sight on increasing it to $10 billion.

In September 2022, USDD partnered with JustMoney Pay to facilitate more use case for the stablecoin. Around December, Justin Sun deployed more funds to support USDD from slipping below its dollar peg. Then, he swapped 203,000 USDC and 570,000 USDT for USDD. The move boosted USDD to record a market capitalization of $711 million making it the eighth-largest stablecoin.

Political Appointments and Huobi

In 2021, Justin Sun became an Ambassador and Permanent Representative of Grenada to the World Trade Organization (WTO). Due to that, he left his role as the CEO of Tron to focus on his ambassador role. Justin Sun once revealed to the media that he would use his position to preach cryptocurrency and blockchain technology to other countries. He also disclosed his intention to encourage technology development in Grenada. He lost this position in June 2022 as he was relieved of his duty. This is due to the electoral defeat of the New National Party.

On October 12, 2022, Huobi announced that Justin Sun has joined its board of advisers. According to an official announcement by the crypto exchange, the likes of Ted Chen, CEO of About Capital Management (HK) Limited; Du Jun, Co-founder of Huobi Global; Wang Yang, VP of Hong Kong University of Science and Technology; and Leah Wald, CEO of Valkyrie Investments joined Justin Sun as board members.

Then, the cryptocurrency exchange revealed that as time goes on, it’ll add more members to the board. Also, Huobi through the announcement revealed that the team would help the cryptocurrency exchange in marketing, branding, compliance, and risk control. It is worth mentioning that the development surfaced after Huobi founder Leon Li sold his entire controlling stake to Hong Kong-based About Capital Management. At first, rumors surfaced that Justin Sun bought the stake from Leon Li. Though, the tech entrepreneur has debunked the claims on various occasions.

During that period, Huobi witnessed the exodus of top executive members like former CEO Zhu Hua, CFO Zhang Li, and Chen Dai, the former head of Huobi PR/GR. But, Justin Sune was the main face of the cryptocurrency exchange despite being an adviser. His influence in the crypto exchange was so massive that on November 15, 2022, reports alleged that Justin Sun alongside his team had taken control of Huobi’s business.

On January 31, 2023, Justin Sun squashed rumors that Huobi had laid off a part of its workforce. Reports indicated that the crypto exchange canceled end-of-the-year bonuses for employees and intended to reduce its staff by 40%. These reports cited the situation of the industry as a reason for the move. Meanwhile, the cryptocurrency exchange struggled to keep up with regulatory demands at some point. It was forced to exit the New Zealand and Malaysia market  at some point due to regulatory demands.

On May 16, Justin Sun alleged that the brother of Huobi founder, Li Wei, sold the native token of Huobi (HT) for a huge amount despite acquiring them for free. He revealed that the HT DAO committee would intervene and compel Li Wei to make a refund and dispose the rest.

Relationship between Justin Sun and Changpeng Zhao

Over the years, Justin Sun and Binance CEO, Changpeng Zhao maintained a cordial but controversial relationship. We can trace the genesis of their ties to 2017. At that time, the Chinese government resolved to ban any form of Initial Coin Offerings (ICOs) in the country, stressing that it provided enablement for pump-and-dump schemes and other forms of financial fraud. It was at this same time that Sun’s Tron was planning its own $70 million ICO.

To the greatest surprise of many, Tron completed the token sale a day before the Chinese authorities unveiled its resolution to outlaw the ICO program. It is worth mentioning that the authorities did not publicly give any hint about its resolution to clampdown on ICO offerings prior to that day. So, many were surprised about how Sun was able to get a clue about the planned ban; thereby ensuring the completion of Tron’s token sale before it was announced.

This is where Changpeng Zhao comes in. According to credible sources, the Binance CEO reportedly hinted Sun of the plan by Chinese authorities to ban ICOs. CZ must have gotten the tip through his connection with some government functionaries in the country. So, Sun banked on the tip to hasten Tron’s token sales before the implementation of the ban.

Immediately the ban took effect, Sun absconded to San Francisco to prevent his arrest by law enforcement agencies. However; the Binance founder downplayed his relationship with the Tron founder; claiming “we have only talked business and haven’t really ‘hung out’ in any way.”

Despite claims by CZ that the relationship between him and Sun was not beyond business, they were both spotted embarking on a vacation together in 2019. This thus explains the fact that the duo shares a personal relationship that they don’t want the public to know about. It was this relationship that fostered the listing and consequent promotion of TRX and TRON-based tokens by Binance. In the same vein, Zhao’s exchange also enabled support for TRX staking with a minimum deposit of five TRX. This was despite the fact that the token traded below 2 cents at that time.

Additionally, it also organized trading competitions for TRX and BitTorrent. The prizes attached were cars, Rolex watches and many more. This thus explains the kind of support TRON received from Binance owing to the relationship between their owners.

In 2021, the sumptuous relationship between the duo suffered a setback. Changpeng Zhao publicly criticized Sun for purchasing STEEMit.com, a decentralised social network on STEEM blockchain. The purchase gave him an entitlement of $12 million funds in pre-mined tokens. Later, the STEEM community decided to frustrate Sun’s access to the funds. They felt the Tron founder could leverage the assets to drive the future of the network.

Their plan was dealt a heavy blow after CZ, Huobi and a few other platforms voted that Sun should override the soft fork put in place to stop his access to the funds. Consequently, Sun began to remove several members of the STEEM community from the ecosystem’s elite governing council, replacing them with those allegedly loyal to him.

His action was greeted with numerous controversies and condemnations. CZ was one of those who chastised Sun for such action. His crypto exchange, Binance also released a statement to affirm its neutrality on the matter.

The statement reads; “Binance stays neutral and has no interest in on-chain governance beyond the Binance ecosystem. We hold a supportive position of normal upgrade/hard fork and will continue to do so in the future. Hopefully, the STEEM community and TRON will reach a consensus in an efficient manner. If they fail to reach an agreement and it poses potential risks/damages to STEEM users on Binance, we reserve the right to take corresponding actions at the consent of our users.”

Steemians.

If #TRON removes their sock puppet witnesses, retracts false statements vs The Community Elected Witnesses & stops messing with our decentralized governance (aka exchanges voting)

Would you be willing to forgive them & accept them back into the #STEEM community?

— They Call Me Dan (@TheycallmeDan_) March 6, 2020

But, the issue did not ruin or strain their relationship. In 2022, following the collapse of FTX, the duo teamed up to launch a $1 billion recovery fund for affected assets. It is worth mentioning that the initiative was geared towards de-escalating the devastating implication of the collapse on affected projects. Shortly after the announcement of the funding was made by CZ, Sun reacted, pledging his support and that of Tron, Huobi and Poloniex. He also pledged to deploy billions to aid affected users of the troubled exchange.

In May 2023, CZ dragged Justin Sun for depositing 56,100,000 TUSD stablecoin on Binance to farm SUI tokens. Earlier, the exchange had launched the SUI layer 1 blockchain token to its launchpool. The launch avails Binance users of the opportunity to farm SUI tokens in a bid to receive allocations just by staking BNB and TUSD stablecoin. Sun attempted to leverage the launchpool and therefore made a whale deposit on the exchange. In reaction, CZ noted that Binance launchpool is meant as airdrops for its retail users and not just for a few whales. He threatened to take necessary action if Sun used the whale deposit to purchase a large amount of SUI tokens from the launchpool.

Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will "take action against it". SMH.

Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.

On the bright side, blockchains are transparent… https://t.co/8Xs1oXjfVd

— CZ 🔶 BNB (@cz_binance) May 1, 2023

A few minutes later, Sun apologized; saying his team was not aware of the intended purpose of the funds.

Regrettably, some of our team members were not fully aware of the intended purpose for these funds and inadvertently used a portion of them to participate in exchange campaigns. Upon realizing this error, we immediately contacted the exchange team and arranged for a full refund…

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 1, 2023

Ongoing Lawsuit and Investigation Involving Justin Sun

At the moment, Justin Sun and his companies; Tron, Rainberry and BitTorrent are facing a lawsuit filed by the U.S. Securities and Exchange Commission. The filing was made by the regulator in March, 2023 at the U.S. District Court for the Southern District of New York. In the lawsuit, Sun and his companies were charged for allegedly engaging in fraud and violating securities laws by selling TRX and BTT as investments through multiple unregistered “bounty programs.”

Also, he and his firms were accused of manipulating the secondary market for TRX by engaging in consistent wash trading. The Tron founder allegedly initiated a scheme to abruptly spike the trading volume of the token in the market. The regulator said he ordered his workers to engage in not less than 600,000 wash trades of TRX on two accounts allegedly controlled by him. Through this, he was reportedly able to sell TRX into the secondary market, thereby amassing $31 million in profit. SEC said such endeavor violated anti-fraud laws obtainable in the country.

The SEC filing added that Sun and his firms also sold BTT in unregistered monthly airdrops to investors in the United States in violation of Section 5 of the Securities Act. It was also alleged that the Tron founder employed celebrities and paid them to promote the unregistered offerings. As revealed by the SEC, these celebrities promoted the offerings without disclosing their financial reward. They include Lindsay Lohan, Jake Paul, DeAndre Cortez Way (Soulja Boy), Austin Mahone, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo) and Aliaune Thiam (Akon).

Few hours after the announcement of the lawsuit by the SEC, Tron’s native token, TRX, plummeted. Also, Huobi, according to Sun, recorded a wave of withdrawals of $30 million on its network.

火币个人感觉是到底了，昨天SEC疯狂输出，平台净出金才3000万美元（前些日子每天净入金2000万美元，SEC一波积累五年的输出，白干一天半吧），今天黑子又是一波疯狂输出，搞了一波提币运动，竟然净入金700万。黑子该黑的也算是黑完了，安心交易吧。黑无可黑，跌无可跌，只能暴涨了。

— 孙宇晨🌞🇬🇩🇩🇲🔥 (@sunyuchentron) March 24, 2023

In April, the Court issued a summons to Sun’s Singapore address. As seen in the filing, Sun was ordered to respond to the summon within 21 days or risk severe penalties. Meanwhile, he has engaged his legal team to work on the legal issue.

Apart from his ongoing legal tussle with the SEC, Sun is, according to sources, being investigated by the FBI. The ongoing investigation is prompted by allegations that he issued insider information to Chinese traders in a bid to pump-and-dump crypto assets. He was reported to have gained Malta citizenship so as to avoid extradition to China. Over the years, the Tron founder has been enmeshed in numerous speculations, indicating his involvement in several pump-and-dump schemes.

Recently, popular journalist, Christopher Harland conducted investigations into the alleged atrocities of Justin Sun. Following the investigations, Harland claimed he interviewed a former employee of the Tron founder. He said the former employee confirmed that Sun made his team manipulate the TRX price to the same value he wanted. As revealed, this was achieved by engaging a few crypto whales to pump the price of the TRX and then sell at a huge profit.

Is Justin Sun Pro Crypto?

Despite his controversial personality, Justin Sun is one of the respected crypto advocates in the industry. Just like CZ, the Tron founder has been showing interest in cryptocurrency and its underlying technology blockchain since its early days. His first encounter with Bitcoin was in 2010. Over the years, he contributed to the advancement of the industry by investing in several crypto projects and offering insightful tips to investors.

As a crypto bull; Sun has no doubt about the future of the industry. Although he usually tips cryptocurrencies to dominate the future of finance, Sun believes such a feat can only be achieved gradually. In one of his interviews in 2019, the Tron founder spoke extensively about the future of cryptocurrencies. He cited the growing institutional adoption of the assets as a signal of a promising future for the industry.

As one of the leaders in the sphere, many people look up to Sun’s insights, comments and views on situations relating to cryptocurrency. In recent years, we can affirm that he has been able to live up to expectations, offering investment opinions to potential investors in the industry. At a time, he once recommended Bitcoin, describing it as an excellent investment for younger generations. Sun further said that Bitcoin is not just an investment opportunity but a technology, citing layer two scaling solutions like Bitcoin Lightning Network as the reason we are currently “facing the next wave of the internet.”

Remarkably, the young Tron founder is confident that Bitcoin has achieved Satoshi’s vision. In a 2008 email conversation, Satoshi said; “For transferrable proof of work tokens to have value, they must have monetary value. To have monetary value, they must be transferred within a very large network. For example, a file-trading network akin to BitTorrent.”

In an interview with a popular publication, Sun confirmed that he founded Tron to enhance widespread crypto access and adoption. He boasted that the alliance between Tron and BitTorrent has been able to bring millions of people to the industry. According to him; “I think, basically, right now the biggest opportunity is the mass adoption. For example […] the cryptocurrency we are introducing into the BitTorrent network, one of the largest file transfering networks in the world. We have over 100 million monthly active users in over 178 countries. I think lots of companies like Facebook will also bring a lot of people to the industry as well.”

It is not in doubt that Justin Sun aims to ensure that Satoshi’s prediction about BitTorrent comes to fruition. He sees Tron carrying the torch into the future through BitTorrent’s alliance. Sun considers the decentralized, immutable, and transparent nature of blockchain fascinating and has, over time, tipped it to overwhelm the world. He seeks to use the platform to popularize and foster better access to blockchain. Today, his Tron network is living up to the expectation, empowering scores of developers to build significant projects.

In May 2023, Sun launched a $1 million support fund to encourage meme coin developers to build on Tron. The Tron founder is an admirer of meme coin projects. Recently, he announced plans to start engaging in meme coins trading. Although he is yet to identify the meme coins he would buy, there are indications the Tron founder might be considering $WSM, the native token of Wall Street Memes in the list.

Sun also played a crucial role in instilling confidence in investors during the 2022 crypto winter. He insisted that a bear market will certainly not end the industry, urging investors to keep the hopes high. In an interview with a known Swiss media, the influential entrepreneur explained how the industry has taken a new shape from what it used to be in 2018 and that cryptocurrencies are now gaining widespread adoption despite the downturn. In May 2023, Sun, in a video interview, claimed the crypto winter is over.

Apart from encouraging investors about the promising future of the industry amid the downturn, Justin Sun also leveraged TRON DAO Reserve to buy BTC and other liquid digital assets. He embarked on this act to de-escalate the crisis in the industry.

Additionally, Tron, through Sun, allocated $5 billion to rescue firms that were plunged into financial problems by the bear market. While supporting Binance’s $1 billion recovery fund, Sun and Tron organized several Hackathon events, worth about $1.2 million prize pool to empower developers with technical expertise during the crypto winter. All these justify Sun’s remarkable contributions to the recovery of the industry.

Notably, Sun has also been critical of regulatory developments in the industry. Recently, he commended Hong Kong for its attractive crypto policies, expressing interest in relocating to the city.

It is worth mentioning that the city has continued to show appreciable commitment in becoming a crypto hub. Speaking on the development, the Tron founder said “we have seen our business grow and the crypto price also recovering, all due to Hong Kong development.”

Beyond cryptocurrency, the Tron founder is also an admirer of NFTs. He describes the digital assets as an integral part of web3 and a game-changer of the internet. Sun is confident in the potential of NFTs to revolutionize the existing trading systems in the art sector. In one of his recent interviews; the controversial millionaire discussed the use cases of NFTs. According to him; it “allows buyers to confirm ownership and make all information and data available to everyone, bringing a new mode of transaction and transparency to the art world.”

Crypto and NFT Holdings of Justin Sun

Justin Sun has been able to grow his net worth by investing heavily in cryptocurrencies. He operates a public crypto wallet, thereby making it easy for anyone to assess his portfolio. We can confirm that the Tron founder has hundreds of crypto assets in his wallet, with an overall worth of about $200 million. Some of the notable assets in his wallet include TRX, ETH, CAKE, MATIC, USDT, USDD, AAVE, BTC, TUSD, WBNB and many more. A large portion of these assets is staked across several DeFi protocols like PancakeSwap, KyberSwap, Convex, Curve and others. By virtue of these revelations, we can affirm Justin Sun as one of the biggest crypto whales in the industry.

As one of the earliest crypto investors, Sun started investing in Bitcoin as early as 2010. At that period, the cryptocurrency was less than $10. Information about the amount of BTC at that time is not in the public domain. But, it is not in doubt that the Tron founder must have made a huge investment in the token. In the past few years, the investment grew from less than $10 to thousands of dollars; thereby strengthening the net worth of Justin Sun.

As a Bitcoin bull, he showed interest in buying 41,500 BTC from the U.S. government in March 2023. Recall that the authorities had earlier announced plans to sell the cryptocurrency which it seized in the Ulbricht case according to Court Documents. The overall BTC seized was 51,351,89 and 9,861 had already been sold via Coinbase. Now, Sun aims to purchase 41,5000 Bitcoins at a 10% discount. If this deal materializes, then, he would be making the list of famous Bitcoin investors across the globe.

Meanwhile, Sun is also seeking to add meme coins to his list of crypto assets. In his May 2023 Twitter post, the controversial crypto whale said he would start trading meme coins and other promising crypto projects on his known public wallet.

I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023

Although he is yet to identify the meme coins he would buy, there are indications the Tron founder might be considering $AI, the native token of an upcoming AI meme generation platform, AiDoge in the list. Amid the prevailing meme coin craze, $AI has continued to witness growing interest. It is not in doubt that Sun’s possible investment in the token will significantly impact its price performance.

As one of the established angel investors, Sun has also invested in institutional crypto projects. In 2017, he founded Tron, whose native token, TRX, boasts of over $6 billion market cap as at May 2023. He also acquired BitTorrent in a $140 million deal. Today, Sun is a proud owner of a $1 billion worth of stake in Huobi.

Apart from cryptocurrencies, we can also confirm that the Tron founder owns NFTs. In the past few years, he invested in scores of NFT projects and collections. For instance, in 2021, Sun bought three “Digital Zones editions,” a series of NFT artworks from Mitchell Chan. According to his post, he paid 569 ETH, equivalent to $2 million at that time for the collections. However, he donated them to the APENFT foundation. In 2022, Sun won the bid for Twelve Chinese Zodiac Heads. The collection was purchased for around ¥9,832,500 worth 1,545,000 USD.

Also, in 2023. Sun announced his intention to convert the artworks collected from Beeple, Andy Warhol, Picasso and others into NFTs.

🤗As a supporter of the arts and innovation of all kinds, I have collected works by @beeple, @muratpak, @fewocious, #AndyWarhol, #Picasso, and more great artists, and have made them into #NFTs.

🤩Now I’m bringing some of them together and debuting them to you. STAY TUNNED! pic.twitter.com/Uuvn9WpOYC

— H.E. Justin Sun 孙宇晨 (@justinsuntron) January 11, 2023

Over the past few years, he had won various unique NFT collections; including The Nose (Le Nez) for $78 million, Femme nue couchée au collier (Marie-Thérèse) for $20 million, Three Self-Portraits for $2 million and OCEAN FRONT for $6 million.

Crypto Projects Featuring Justin Sun

We can link several crypto projects to Justin Sun. One of the projects, Tron was founded in 2017 alongside its native token, TRX. The success of Tron paved the way for Sun to buy BitTorrent, Poloniex and a $1 billion stake in Huobi. Today, TRX boasts a market cap of over $6 billion as of May 2023. Also, Sun is also the brain behind the launch of an algorithmic stablecoin, decentralized USD. The stablecoin is managed by the Tron DAO reserve. Following the collapse of UST in May 2022, Tron DAO Reserve reimbursed $650 million worth of USDC into USDD’s collateral reserve. The intervention stopped the algorithmic stablecoin from dipping further from the 9% fall it recorded.

Justin Sun has built a strong reputation in the crypto industry. This reputation made him one of the top personalities that projects seek to feature. Wall Street Memes belong to the caliber of projects that’ll possibly feature Justin Sun soon. The project has received backing from top crypto enthusiasts like Elon Musk.

$WSM attracted a lot of investors a few days into its presales. The rate in which investors are adding $WSM to their portfolio showered the token with an average daily sales worth $350,000. Thus, making it one of the most notable crypto presales the industry has ever witnessed in recent years. Also, $WSM also enjoys the backing of an outstanding community with over 450k followers across Twitter and Instagram. Indeed, without a doubt, $WSM is the next cryptocurrency to watch out for in the market. Visit wallstmemes.com to invest in one of the fastest-growing crypto projects.

Justin Sun’s Net Worth – Our Verdict

Although Justin Sun’s pathway to amassing prosperity has been a subject of rigorous scrutiny and controversy, he is still one of the most revered personalities in the industry. Over the years, the Tron founder made several headlines owing to his various investments in crypto projects as well as his controversial actions. Justin Sun is said to have been involved in numerous pump-dump schemes to build his current net worth.

At the moment, he is facing an intense investigation from the FBI over allegations that he issued inside information to Chinese traders so as to pump and dump a particular crypto asset. In the same vein, the U.S. District Court for the Southern District is also hearing the allegation filed against him by the SEC. Sun is not the only one undergoing trial for this case. His three companies as well as some notable celebrities who allegedly promoted the unregistered offerings are also mentioned in the lawsuit.

Certainly, the outcome of the lawsuit will impact the future net worth of Justin Sun.
Against all odds, Justin Sun has established himself as one of the wealthiest and most influential individuals in the industry, boasting of an estimated $200 million net worth. The success of Tron contributed largely to his financial status and paved the way for him to invest in more projects. In the past few years, Justin Sun boosted his net worth by diversifying his investment portfolio to other promising projects like Huobi, BitTorrent, and many more. This thus means the majority of his investments are in crypto-oriented projects and assets.

It is worth mentioning that Justin Sun is passionate about the crypto industry. Despite the 2022 crypto winter that plunged Bitcoin to its lowest low, he was still very much optimistic about the potential of the industry to recover. Apart from encouraging investors to keep believing in the prospects of crypto, he also participated in numerous initiatives designed to help struggling firms. Without any doubt, Justin Sun has earned himself a place among the famous crypto leaders in the world, leveraging his investments in the industry to strengthen his net worth.

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