Unsettling Parallels Between Justin Sun, FTX Founder SBF

Discover Crypto, a well-known cryptocurrency YouTube channel, has posited that the HTX exchange, supervised by Tron founder Justin Sun, might emulate FTX in light of the purported scandals involving Sun.

The channel presenter expressed satisfaction with the similarity between Sam Bankman-Fried, the founder of the defunct FTX cryptocurrency exchange, and Justin Sun.

He asserted that Justin Sun is managing a massive house of cards; consequently, a collapse is inevitable, similar to the situation involving Bankman-Fried.

The channel presenter specifically highlighted the importance of providing further details regarding the clandestine endeavors of Justin Sun, who is responsible for the Tron blockchain, a cryptocurrency project valued at billions of dollars.

The channel underscored Sun’s acquisition of more than $70 million through the ICO, which occurred in 2017, when Tron launched its initial coin offering (ICO) for the TRX token, notwithstanding the Chinese government’s prohibition on crypto ICOs.

The presenter asserted that, to avoid prosecution, Sun migrated to Korea following the ICO. The channel hoped to demonstrate through this anecdote that TRX was established “under unlawful conditions.”

In addition, the channel presenter addressed the controversies that have surrounded the founder of Tron. He stated that in 2019, a 70-page document alleging workplace harassment was lodged against Sun and the Tron Foundation in the United States.

As disclosed, during office meetings, Justin Sun allegedly assaulted several staff members and displayed preferential treatment toward Chinese employees.

As a retaliatory action, the Tron Foundation purportedly altered personal files and corporate email addresses to coordinate a cover-up scheme that would unjustly implicate the individuals who had filed charges against them.

In the interim, the Discover Crypto channel observed that, despite the lack of confirmation, these accusations undeniably damage the standing of Justin Sun and his initiative, Tron.

Additionally, the channel emphasized that allegations of fraud and security law violations were levied against Sun by a U.S. regulator this year.

Sun and his entities were charged by the SEC with manipulating the secondary market for TRX fraudulently using extensive wash trading.

The allegations above, in conjunction with other scandals about Justin Sun, have prompted the Discover Crypto channel to deduce that the founder of Tron and his affiliated cryptocurrency ventures may be following in the footsteps of Sam Bankman-Fried and FTX.