The founder of the TRON protocol Justin Sun was reported to be the core investor of the crypto exchange Huobi. Shortly after the revelation went public, Sun slammed the sensational claims as “wrong”, denying being the shadow investor.
The series of claims started when Huobi declared that all of the HuobiGlobal shares held by the fund of About Capital Management had been transferred to the controlling shareholder firm.
The principal investor in this M&A fund was “found” to be Justin Sun, as first revealed by WuBlockchain, who cited multiple sources to reach that conclusion.
Back on August 12, Bloomberg reported that Huobi’s Chinese founder Lilin was looking to sell its $3 billion majority interest in the exchange. The first contacts with him were established by FTX and Justin Sun.
We are not currently involved in any issues relating to Bloomberg’s reporting, Justin Sun tweeted to clarify. SBF too denied any intentions of acquiring Huobi.
According to speculations, FTX invested money to help Justin Sun with this purchase.
The TRON founder recently made an appearance at TOKEN2049 in Singapore at the Huobi event site and at the Huobi alumni party. Prior to that, senior staff from FTX and Justin Sun frequently collaborated in Singapore to purchase Huobi.
In response to WuBlockchain’s claim, Justin Sun said he “didn’t participate.” Still, Sun’s official social media showed that he had joined Huobi as a global advisor.
That said, the TRON network hit another milestone.
TRON’s Total Transaction Tapped 4 Billion
The total number of transactions on the TRON has recently surpassed 4 billion, adding 4,812,800 transactions in the past 24 hours alone, per the TRONSCAN data.
A little over two months after TRON became the second-largest public chain by stablecoin market cap, it is important to note that the total value locked [TVL] of the network has surpassed $12 billion and that there are now more than 115 million accounts available on it.
The price of TRON’s TRX token has increased since the acquisition rumors first surfaced, and it is currently trading at $0.06, a rise of over 3% in 24 hours and 5.16% over the last seven days.
According to data obtained from CoinMarketCap on October 10, TRX presently has a market cap of $5.9 billion and is the 15th largest coin by this metric.