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Justin Sun, a prominent figure in the cryptocurrency world, is under scrutiny for his involvement with HTX (formerly Huobi) and his significant Bitcoin trades. Despite Sun's denial of control over HTX, he has admitted to being an advisor, and the business has described him as its leader. CryptoQuant's Ki Young Ju flagged suspicious BTC trades linked to Sun. Sun opened a long Bitcoin position at $67,000, amounting to $420 million, backed by $460 million worth of stUSDT, his stablecoin project offering a 46% annual percentage yield (APY). Notably, 89% of the stUSDT supply is held within HTX. The exchange's liquidity stands at $24 million, raising questions about the source of the collateral used for Sun's trades.
🚨 CRYPTO WHALE JUSTIN SUN UNDER SCRUTINY CryptoQuant's Ki Young Ju flagged suspicious BTC trades linked to Justin Sun. Sun placed a $420M long at $67K, backed by $460M stUSDT, while HTX Exchange's liquidity stands at $24M. This move raises questions about collateral sources… https://t.co/eOTuniqQk5
WHAT'S UP WITH JUSTIN SUN'S BITCOIN BET? CryptoQuant's Ki Young Ju spotted some sus trades by Tron boss Justin Sun. Dude's got a $420M long position on BTC at $67K, backed by $460M in stUSDT collateral. HTX Exchange only has $24M liquidity. Where's all this collateral coming… https://t.co/QHOtywzci3
Justin Sun longs Bitcoin - $420m position at $67k h/t @invest_answers @ki_young_ju https://t.co/IUnX22zUFy https://t.co/xUrLi3qCmh
