TRON Founder Justin Solar Breaks Silence on $69,000 Bitcoin Lengthy

U.Right now – A well known determine within the crypto business, Justin Solar, founding father of TRON (TRX) and chief adviser to Huobi, opened up in an uncommon put up on social networks. Particularly, he responded to rumors concerning his investments.

Solar expressed confidence in Bitcoin’s future however clarified that he didn’t take a protracted place on the $69,000 worth stage.

This clarification got here in response to a declare by Ki Younger Ju, CEO of CryptoQuant, who alleged that Solar had opened a considerable Bitcoin lengthy place utilizing stUSDT as collateral.

HTX whale saga

Ju claimed that Solar is a mysterious HTX whale, who opened a protracted Bitcoin place at $67,000 with at the least $420 million in positions.

He identified that the USDT reserve was round $24 million and questioned the supply of the collateral, stating that Solar used $460 million price of stUSDT, a stablecoin challenge with a excessive annual proportion yield, with 89% of the availability in HTX.

Curiously, Ju later deleted his put up, explaining that he meant to make clear issues with the trade workforce. He emphasised that he was not being compensated for this motion and didn’t wish to hurt their enterprise earlier than they’d an opportunity to remark.

Whereas Solar denied buying BTC on the $69,000 stage, he didn’t deal with allegations concerning his acquisitions. Just lately, Spot On Chain reported that since Feb. 8, Solar might have purchased 362,751 ETH, price roughly $1.11 billion, through three wallets.

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