Justin Sun's $420 Million Bitcoin Transaction Revealed Amid Attempt to Purchase Germany's BTC! Justin Sun will be the next SBF, and HTX will be the next FTX!

Justin Sun, founder of Tron (TRX), has been actively engaged in the cryptocurrency market, particularly accumulating Ethereum (ETH) since February.

Recently, CryptoQuant CEO Ki Young Ju disclosed Justin Sun's substantial Bitcoin (BTC) position worth $420 million in his latest update. According to Ju, Sun entered a significant long position in Bitcoin at $67,000.

June's “Bitcoin whales on HTX opened long positions at $69K.” Quoting his post, Ki Young Ju claimed that one of these whales was Justin Sun.

He said that CryptoQuant CEO Justin Sun opened a significant long Bitcoin position at $67,000 and that the value of this position was at least $420 million in total.

Ju highlighted that Sun utilized stUSDT, his own stablecoin project offering 46% APY, as collateral for this position, pledging $460 million USDT.

All Data Points to Justin Sun!

Although Ki Young Ju also pointed out that 89% of the stUSDT supply is in HTX, one user asked, “How do you prove that this person is Justin Sun?”

Ju Hui replied affirmatively that it was definitely Justin Sun:

“It must be Justin Sun since he holds 96% of the stUSDT supply. If not, then it's client funds. There may be VVIP clients, but I don't think all of those clients who hold 89% of the stablecoin supply agreed to open $420 million long positions in just one week .

It's also possible that Justin Sun actively manages customer deposits to maintain a 46% APY. “In any case, it seems clear that Justin was involved in this decision-making process.”

Addressing questions about Sun's involvement, Ju indicated that given Sun's control over 96% of the stUSDT supply, it is likely his transaction. Ju reasoned that while there could be other high-profile clients, the scale and speed of this transaction suggest Sun's direct involvement in decision-making.

Justin Sun publicly stated on July 4 that he was willing to negotiate with the German government to purchase all BTC off-market to minimize the impact on the market.

In response, some users on X said that Justin Sun will be the next SBF and HTX will be the next FTX.

German government holds less than 5,000 bitcoins

Initially holding 50,000 BTC seized from Movie2k's operators in January, valued at $2.8 billion today, Germany has substantially reduced its holdings. According to blockchain analysts Arkham Intelligence, only 4,925 BTC, approximately worth $284 million at current rates, remain in German government wallets.