Suspected of insider trading, fraud, evading ICO bans, and money laundering through immigration… He was investigated by multiple law enforcement agencies in the United States, with nearly 10 charges. Recently, an investigative report brought Justin Sun to the forefront again. According to the US technology media The Verge, a number of former employees of Justin Sun’s company broke the news that Justin Sun organized a market-making team during TRON, suspected of insider trading, evading the ICO ban; suspected of fraud, money laundering through immigration or evasion of legal sanctions.
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Suspected of insider trading, was investigated by the FBI?
Justin Sun: Or will run for president of the United States to counter rumors
At present, the US Internal Revenue Service and the FBI have been involved in the investigation, and Justin Sun may once again use the citizenship of another country to avoid legal sanctions. The report also said that all the sources involved in the revelations expressed concern that the move would lead to retaliation from Justin Sun.
In this regard, on March 10, Justin Sun sent 5 Twitters in a row in response to the allegations in The Verge’s investigation that his alleged insider trading was investigated by the IRS and FBI.
He said that Poloniex has always enjoyed a good reputation as a SAFU exchange and has maintained the highest standards in protecting clients’ crypto assets over the past eight years. And it has a proven track record without any major security breaches in its operations.
Justin Sun claimed that this was a lie by a reporter from The Verge and a blatant slander against the operation of Poloniex. With robust risk management and strong financial resources, Polo has always provided first-class service to its clients.
In addition, the company has been working hard with regulators to invest in state-of-the-art KYC facilities that meet industry standards. Justin Sun revealed that Poloniex is not registered in Seychelles, and the exchange does not operate in or serve the United States.
In the end, Justin Sun responded as a “WTO ambassador”, saying that in Grenada, he strives to uphold the highest standards in his public and industry efforts. He stressed that he would reserve the right to take legal remedies against false information published by any entity and hired Harder LLP as legal counsel.
Regarding the reports of foreign media, Justin Sun also responded simultaneously on Weibo. He said that as Grenada’s ambassador to the WTO, he attaches great importance to compliance, regards compliance as the lifeline, and maintains good relations with regulators in various countries (including China and the United States) to jointly To promote the compliance and development of the blockchain industry, for the bottomless rumors of foreign media, a top US law firm has been hired to investigate its legal responsibility.
Soon after, he also said on Weibo: “If some shameless American foreign media continue to spread rumors against me without bottom line, I will not rule out countermeasures by running for the president of the United States!”
The road to fame of hype ghosts
From playing Buffett to touching porcelain Wang Sicong
Justin Sun nicknamed “Sun Cut”, as the founder of the virtual currency TRON, Justin Sun has countless labels on his body, a post-90s entrepreneur, a leek harvester, a genius at Peking University, a disciple of Jack Ma, the first person to release Buffett’s pigeon…
However, its biggest feature is self-marketing, and the birth of the above label is also due to his unique ability to hype.
In 2019, Justin Sun bid nearly $4.57 million for Buffett’s charity lunch, notably the largest bid ever. However, the sky-high lunch originally scheduled for late July of that year was cancelled due to Justin Sun’s “sudden kidney stone”.
A “savvy person in the world“, a legendary stock god who has been in the investment world for 70 years, has been rubbed by a 90-year-old boy. This may be the first time in his life for Buffett, who is in his 90s .
Just after Buffett, Justin Sun struck while the iron was hot and kept touching celebrities from all walks of life.
When an accident happened to Xiaopeng Motors, he posted on Weibo to support the owners’ rights protection, and said that he personally subsidized 80% of the legal fees until the official gave a satisfactory solution.
Luo Yonghao was included in the list of untrustworthy people. He posted on Weibo that he would pay 1 million yuan a year to hire Luo Yonghao as their company’s entrepreneurial spokesperson.
Wang Sicong’s real estate, cars, and deposits were seized, and he posted on Weibo that he wanted to help Wang Sicong repay the debt.
In the case of NetEase’s sick employee being laid off, he jumped out and said, “I have paid all the money for the medical treatment of Netease’s resigned employees.”
From photographing Buffett’s lunch, to putting Buffett’s pigeons, from touching porcelain Wang Sicong to rubbing against Luo Yonghao… Wherever there is a hot spot, there is Justin Sun. Justin Sun’s skillful ability to rub against the hot spot has refreshed the public’s cognition time and time again. There was a huge controversy on social media.
Until December 2019, Justin Sun’s Weibo was blocked, and his marketing farce on domestic social media also came to an end. Justin Sun, whose Weibo account was blocked, has not disappeared since then, but began to make frequent appearances internationally.
In July 2019, Caixin reported that since June 2018, regulators have issued border control orders to Justin Sun due to suspected illegal fundraising and other issues. Based on various social dynamic clues of Justin Sun, it can be found that since January 2019, he has basically been active abroad. At present, whether Sun Justin can return to China is a question.
How did Justin Sun cut the leeks step by step?
For Justin Sun, all the marketing and hype is just a pavement for his accumulation of wealth.
In August 2017, Justin Sun established the TRON Foundation in Singapore and officially launched the TRON project. After that, the price of TRON coin surged. Justin Sun, who holds a large number of TRON coins, cashed out wildly in the secondary market at a high level, earning 3 One hundred million U.S. dollars. Since then, Justin Sun has completely transformed and joined the billionaire club, but at the same time, countless people have been cut off.
In May 2021, the cryptocurrency market ushered in a slump, with Bitcoin briefly falling below $31,000. At this time, Justin Sun posted on the social platform that he had purchased $153 million worth of Bitcoin with an average price of $36,868, and $135 million worth of Ethereum with an average price of $2,509.
Soon after, Justin Sun also posted a high-profile post on social media saying that “all the bitcoins sold by Musk will be purchased.” Although the truth of this matter is unknown, the hype effect has already been achieved for Justin Sun.
Since last year, the craze of the metaverse has risen, and Justin Sun will naturally not let it go. In September 2021, he spent $10.5 million to buy the first NFT avatar in his life, and then bought a new one with $15 million TRX. Ape portrait. Justin Sun said that NFT avatars are the galleries of our generation, and the money spent on picture avatars has exceeded the money spent on Picasso’s works.
Justin Sun has always been well versed in the password of wealth. As an emerging field, virtual currency is playing with traffic and popularity. Only when a certain virtual currency is “famous” in a wider group of people can it attract more people to enter the market. The price has been raised, and the leeks are cut at the same time. Even “shorting yourself” can cut the leeks. In short, everything is under the control of “Sun Cut”.
Just at the end of last year, Justin Sun added a label “Grenada Permanent Representative to the World Trade Organization” on his head. To this day, in the face of investigations and allegations by foreign media, Justin Sun has moved out of his identity as a WTO ambassador.
According to public information, Grenada is an island country in the Caribbean Sea of South America, with a total area of 344 square kilometers and a population of about 110,000. The country relies on investment immigration programs to generate income all year round. Investors can apply for immigration by donating $150,000 or investing $220,000 in real estate. It is worth noting that in December 2017, the European Union announced that Grenada was blacklisted as a tax haven.
As long as there is no lower limit, you can challenge the online line of life. For Justin Sun, perhaps an accusation in a report will not have much impact on him. After all, as long as it is legal, he can appear in the world at any time as long as he is on the edge of law and morality. on any corner.