Justin Sun Shares HTX Screenshot of His Account Holding $1.6B Bitcoin
Tron founder Justin Sun showcased his Bitcoin holdings using the social media platform X — in a screenshot, Sun shared that his HTX account contained 28,614 Bitcoin which is worth $1.6 billion.
Using the social media platform X, Sun went on to post: “Personally, I use almost all main exchanges and am a supporter of those exchanges. However, if someone says I seldom use HTX.com, that would be inaccurate. I am a heavy user of HTX. My personal use of HTX is the same as all HTX users, believing and trading.”
China-born entrepreneur Sun, is an advisor of the cryptocurrency exchange HTX, which was formerly known as Huobi Global. It emerged recently that HTX withdrew its application for a license on February 23, according to a filing posted on the Securities and Futures Commission website. HTX has not disclosed its reason for withdrawal.
Sun Withdrew $60M Worth of Altcoins in One Month
In January it emerged that Sun, withdrew $60 million worth of altcoins from the cryptocurrency exchange Binance in one month, as reported by Sujha Sundararajan at Cryptonews.
Per data from Lookonchain, Sun withdrew the maximum assets in Ethereum worth $43 million, followed by $6.7 million worth of Aave, $6.3 million in Shiba Inu and other assets including Chainlink and Decentraland. “Since Dec 18, 2023, Justin Sun has withdrawn $60M assets from Binance,” Lookonchain, an on-chain intelligence provider, wrote.
On December 18, a wallet linked to the crypto billionaire showed withdrawals of 500 billion SHIB (worth $5.1 million). On a consecutive day, the wallet made another withdrawal of 70 billion SHIB (approximately $900,000). The report comes days after the HTX exchange and HTX DAO were hit by a distributed denial-of-service attack.
Sun Sued by SEC
In March last year, the U.S. Securities and Exchange Commission (SEC) sued the Tron founder on allegations of fraud, market manipulation and for airdropping unregistered securities. The SEC said Sun and three of his wholly-owned companies, Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent), were being sued for the unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT).
“The SEC also charged Sun and his companies with fraudulently manipulating the secondary market for TRX through extensive wash trading, which involves the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership, and for orchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation,” said the SEC in a press release.
