TRON’s founder Justin Sun pledges $1 billion to counteract FUD, unfazed by nearly $300 million losses.
Justin Sun, founder of TRON, announced a $1 billion fund to combat FUD after market turbulence caused him significant losses. Sun reassured followers on social media.
He said the industry has grown significantly and the market’s recent fluctuation isn’t due to negative news.
"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."
— Justin Sun
The pledge follows a report by X account Spot on Chain, which revealed Sun lost about $280 million due to Ethereum’s recent 20% price plunge.
Since February, Sun reportedly amassed over 377,500 ETH, costing $1.15 billion through three wallets. With Ethereum now trading below his average price of $3,051, Sun’s holdings have devalued.
“We rarely engage in leveraged trading”
Amid market rumors, Sun refuted claims of being liquidated, stating his affiliates avoid leveraged trading.
"Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, working on projects, and helping project teams provide liquidity."
— Justin Sun
In July, as Germany began liquidating confiscated Bitcoin, Sun offered to negotiate a purchase to mitigate market impact. Despite his pledge, Bitcoin’s price fell below $55,000.
