Sun remains optimistic about the future and focuses on supporting the industry, including staking, running nodes, working on projects, and more.
Justine Sun, the founder of TRON network, has pledged $1 billion to combat and address fear, uncertainty, and doubt (FUD) in the crypto industry.
FUD refers to the negative emotions and misinformation that spread among crypto traders. It forces traders to invest or sell their assets without thorough analysis.
In a recent post on social media platform X, Sun reassured his followers and the broader crypto community that the industry has achieved significant growth and advancements over the past year. The TRON founder also highlighted that the current market fluctuations are not caused by negative news but rather typical aspects of market dynamics.
“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,” Sun said.
Sun Denies Liquidation Rumours
Following the announcement, blockchain analytics platform Spot On Chain revealed that Sun accumulated a substantial amount of ether. Since February, the TRON founder has used three wallets to acquire more than 377,500 ETH at an estimated cost of $1.15 billion. With ether’s current price significantly below his average buying price of $3,051, Sun’s ETH portfolio is in paper loss.
Following the report, rumors started circulating that Sun got liquidated due to ETH sudden crash. However, he was quick to dismiss the claims as false.
The rumors about our positions being liquidated are false. We 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…
— H.E. Justin Sun 孙宇晨 (@justinsuntron) August 5, 2024
Meanwhile, this is not the first time Sun has attracted attention with his bold plans. In early July, as the German government started selling off thousands of seized BTC, Sun publicly offered to discuss a direct acquisition to minimize market disruption.
