Justin Sun is a name synonymous with diverse reputations - to some, he's the young millionaire who made headlines with a $4 million bid for lunch with Warren Buffett; to others, he's the visionary founder of TRON, a pioneering force in crypto space.

Yet, despite his growing fame, many remain unaware of his impact in the cryptoworld. But make no mistake, 32-year-old Justin Sun isn't just your average tech millionaire millenial who wears t-shirts and sneakers everywhere. He's so much more than that.

Early Life

Justin Sun's family is originally from Shandong, China. However, he was born in Qinghau and grew up in Guangdong. Like many people his age, Sun was very fond of the internet and spent a lot of time online. Ultimately, he began performing poorly in school.

Justin Sun eventually had a turning point, recognizing the importance of good grades to get into a decent university, so he picked himself up. His grades significantly recovered, and he gained admission into Peking University, one of China's best universities. Interestingly, he didn't gain admission to study anything tech related. Instead, he dedicated three years to earning his degree in history.

Sun moved out of the country subsequently and went to the University of Pennsylvania in the United States. He did not study tech there either, instead, he got a master's degree in Political Economy, a field that may not have seemed directly applicable to the tech world but would ultimately contribute to his significant influence in the cryptocurrency space.

In 2012, Sun's fascination with Bitcoin began and he started investing in the cryptocurrency, reportedly using his tuition fees. This marked a pivotal moment, as Sun became determined to make a meaningful impact on the world through entrepreneurship, setting the stage for his future endeavors in the industry.

Bitcoin Spark: Early Foray into Crypto

In 2013, Sun had learned enough about Bitcoin to work in crypto. He'd also become incredibly wealthy by investing in Bitcoin, as the price of the coin jumped to a thousand dollars. With his newfound expertise and financial resources, Sun began exploring opportunities in the crypto ecosystem.

Sun somehow managed to catch the attention of Chris Larsen, Ripple's CEO, and became the company's first China-based employee. His experience at Ripple eventually gave him enough leverage to branch out on his own, and that's precisely what he did.

After leaving Ripple, Sun founded his first startup, Peiwo, which directly translates to "accompany me" in Mandarin. The app aims to connect millennials through live audio chats based on a ten-second voice recording of the users. Peiwo very quickly gained immense popularity, and Sun found even more success.

Spotted by Jack Ma

After graduating from the University of Pennsylvania, Justin Sun was handpicked by Jack Ma to join the inaugural class of Hupan University, an elite school for entrepreneurs. Students who wanted to get into Hupan had to own a business that had existed for over three years and had at least thirty employees. Additionally, the company must also have a monthly turnover of over 4 million dollars.

Sun's success with Peiwo earned him a personal invitation from Ma, making him the only millennial in the class. At 25, Sun gained recognition from the Chinese establishment, including being hailed as a pioneer by state-owned CNTV in 2015. His rise to prominence continued, culminating in a major breakthrough in 2017, once again through cryptocurrency.

A Dream of Decentralization: How TRON Came to Be

During his time at Hupan University, Sun worked on various side projects, including Tron. In 2017, he founded Tron Foundation to develop a decentralized platform for sharing digital content using blockchain technology. The platform's initial coin offering, TRX, raised an impressive $70 million.

Initially built on the Ethereum network, Sun soon decided to move Tron to its own blockchain, which he accomplished in 2018. He continued to expand his crypto empire by acquiring BitTorrent, a file-sharing service, through the Tron Foundation. By 2019, Tron's market capitalization exceeded $1 billion, solidifying Sun's position as one of the most important figures in crypto.

Around this time, Sun finished Hupan and his thesis was titled “The Birth Of A Decentralized Internet".

In 2021, he stepped down as Tron's CEO and was appointed as Grenada's ambassador to the World Trade Organization, a role that inspired him to promote crypto adoption in South American countries like Grenada. He became a Grenadian citizen through the country's citizenship-by-investment program, further confirming his commitment to crypto and his desire to make a global impact. With his success and wealth, Sun was poised to make a meaningful difference in the world.

Despite Justin Sun's remarkable achievements, some people question his authenticity, labeling him an "entrepreneurial actor" who has masterfully crafted his public image.

China's GQ magazine, for example, published a profile of Sun that outlined his efforts to hire professional public relation personnel to help him manage his fame — before he even had any.

While it's difficult to say whether these accusations are right or wrong, it's important to note that Sun is a very flamboyant character. He is no stranger to courting the media, who actively seeks media attention and isn't afraid to express his opinions, adding to the controversy surrounding his persona.

The Sun Saga: The Master of Crypto Manipulation?

The Tron founder has been embroiled in a series of controversies and conspiracy theories throughout his career which has led to a significant amount of skepticism and criticism towards him. As a result, he has become a polarizing figure with some viewing him as a visionary and others as a controversial figure who will stop at nothing to achieve his goals.

Insider Trading

In 2019, Sun sold a large amount of TRX tokens shortly before announcing a partnership with Baidu, causing the price to drop. Critics accused him of insider trading, using his knowledge of the upcoming announcement to profit from the sale.

SEC Lawsuit

In 2020, the SEC sued Sun and his companies, Tron Foundation and BitTorrent Foundation, for conducting an unregistered initial coin offering (ICO) and fradulently manipulating the market. The SEC alleged that Sun raised over $1.3 billion through the ICO without registering it with the SEC.

Poloniex Debacle

After acquiring Poloniex in 2018, Sun was accused of using the exchange as his personal bank, manipulating the platform's operations, and favoring TRX and other affiliated cryptocurrencies.

TRX Price Manipulation

Sun has been accused of artificially inflating the price of TRX through wash trading, spoofing, and other manipulative tactics. Critics claim that he used his influence and resources to create the illusion of market demand.

BitTorrent Token Controversy

In 2019, Sun's company, BitTorrent Foundation, launched the BTT token. However, the airdrop was marred by technical issues, and some users received an disproportionate amount of tokens, leading to accusations of favoritism.

Tron's Growing Appeal Among Hamas & Terrorist Groups

In 2023, Tron reportedly surpassed Bitcoin as the preferred platform for crypto transactions linked to terrorist groups by Israel, the US, and other nations. This trend is evident in the crypto seizures announced by Israeli security services since 2021, which revealed a significant increase in Tron wallet targeting and a decline in Bitcoin wallet seizures the first time.

Terrorist organizations are increasingly drawn to Tron for several compelling reasons. Firstly, Tron offers faster and more affordable transactions compared to Bitcoin. Secondly, Tron's stability minimizes the risk of value fluctuations, making it a more reliable choice for crypto holdings. Lastly, Tron's relatively lower scrutiny from law enforcement agencies makes it an attractive option for terrorist groups seeking to transfer funds discreetly and avoid detection.

Later, Israel froze 143 Tron wallets that it believed were connected to a "designated terrorist organisation" or used for a "severe terror crime."

Almost two-thirds of Israel's Tron seizures – 87 - were this year, including 39 wallets that Israel said in June were owned by Lebanon's Hezbollah, and 26 it said in July belonged to Palestinian Islamic Jihad, a Hamas ally that joined the assault on Israel from Gaza.

The seizures have also included 56 Tron wallets NBCTF said were linked to Hamas, including 46 in March last year connected to a single Gaza-based money exchange company called Dubai Co. For Exchange.

In response to the severe backlash, Justin Sun responded on X, stating that his primary focus remains on "decentralisation" to ensure user asset security.

Space Snub: $28 Million Blunder

In 2019, Justin Sun paid a staggering $4.9 million for a charity lunch with Warren Buffett, a renowned critic of cryptocurrencies, who has likened them to "rat poison squared". Sun was determined to convert Buffett into a crypto believer and secured the meeting. However, fate intervened, and Sun fell ill just days before their scheduled encounter, forcing a postponement to 2020. When they finally met, Sun presented Buffett with a Bitcoin loaded onto a Samsung Flip Z phone, a bronze horse statue symbolizing their shared zodiac sign, and a traditional Chinese paper cutting artwork commemorating the Year of the Mouse in 2020.

The Tron blockchain founder was briefly also a representative to the World Trade Organization (WTO) for Grenada, and in another bid, he spent $28 million to win an auction giving him first dibs on a trip to space through Blue Origin. If Sun had been on the first Blue Origin launch, he would have flown with Jeff Bezos and his brother Mark. However, he had to postpone his trip due to a scheduling conflict.

Unfortunately, a simple scheduling conflict is difficult to believe given that Blue Origin has accomplished six crewed missions to suborbital space in total — none of which had Sun onboard.

His hesitation to embark on his long-awaited space journey is perplexing, to say the least. It remains unclear whether Sun has lost his enthusiasm for space travel or is deliberately avoiding a return to the US mainland.

China and US Regulatory Issues

Sun has faced legal issues in both China and the US, including allegations of illegal fundraising, fraud, and violating securities laws. He has been accused of using his companies to circumvent regulatory requirements.

TRON's White Paper Plagiarism

In 2018, Vitalik Buterin accused Sun of plagiarizing the Tron whitepaper. This happened when Sun went on Twitter to discuss why Tron was a better asset than Ethereum. Sun argued that Tron was a better class of assets because it had consistent coin burns, zero fees, and developer rewards.

Vitalik then decided to give Sun another reason and tweeted that Tron had a better whitepaper since it could 'copy and paste' instead of writing new content.

Vitalik could make these claims because Tron had found itself in a plagiarism scandal earlier in 2018. The whitepaper for the asset seems to have relied heavily on other assets but included no citations.

Sun refused to speak about the allegations directly and instead shifted the blame to the individuals who translated the document from Chinese to English. Sun also decided to thank Vitalik for his reply and all the help Tron had gotten from Ethereum.

Sun's Lasting Impact

Despite being embroiled in numerous controversies, Justin Sun remains a significant figure and voice in the crypto industry. In a recent crypto event held in Dubai, Token2049, Sun spoke about his views and backed meme coin projects and hailed the success of Dogecoin, Shiba Inu, and Floki among others.

He believes that meme coins are the "first thing" that sets the crypto industry apart from traditional finance. He also predicts that each bull cycle will feature a standout meme coin that surpasses others, just like Shiba Inu has done in the current cycle.

Justin Sun is known to have a great affinity for Ethereum. He is also known to conduct huge transactions featuring Ethereum, Shiba Inu, and other cryptocurrencies. He reportedly accumulated a total of 176,117 ETH worth $559.7 million since April 8th 2024, at an average price of about $3,170 per token, amid the crypto market correction. It was also stated that Sun might have used another new anonymous wallet, and the fresh wallet withdrew 95.67 million USDT and 7,402 ETH from Binance.

From his early days as a college student to his current status as a crypto mogul, Sun has consistently pushed boundaries and challenged the status quo. While his methods and motives have been questioned by some, his impact on the crypto landscape is undeniable. According to sources online, it is safe to say Justin Sun is indeed a billionaire, as his online cryptocurrency wallet already makes up to $1.18 billion in value as of March 27, 2024.