From Investing.com

July 12, 2024 11:30 AM:

The founder of TRON, Justin Sun, addressed rumors about his investments, denying taking a long position on Bitcoin at $69,000. Allegations by CryptoQuant CEO Ki Young Ju claimed Sun opened a $420 million long Bitcoin position, using $460 million worth of stUSDT as collateral, leading to questions about the source and risks involved.

Ju later deleted his post to clarify matters with the exchange team, emphasizing he was not compensated and did not intend to harm their business. Sun did not address allegations of acquiring 362,751 ETH, worth $1.11 billion, through three wallets since February 8. Denial of the $69,000 Bitcoin purchase fuels speculation about Sun’s investment strategies.

Read more at Investing.com: TRON Founder Justin Sun Breaks Silence on $69,000 Bitcoin Long By U.Today