Justin Sun: The Watcher in the Storm of the Currency Circle

On April 2, 2025, Justin Sun was once again on the hot search in the currency circle.

According to CoinDesk, Justin Sun provided key financial support when the stablecoin TrueUSD (TUSD) is facing a reserve gap of nearly $456 million, avoiding the potential "explosion" (i.e. the risk of stablecoins losing their 1:1 anchor to the US dollar).

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The founder of Tron described to Hong Kong media Sing Tao Daily in his usual high-profile and dramatic style: "Godzilla destroyed the city, I was Ultraman, and I beat Godzilla away with one palm, so I am a person who came to save everyone."

In this storm, Justin Sun not only tried to fight the dark side of FDT financial fraud, but also pointed out regulatory loopholes, calling on Hong Kong financial regulatory authorities and law enforcement agencies to intervene and reconstruct the trust system and the supervision system of licensed companies. His persistence is not only to fight for himself, but also to speak out for the future of the entire currency circle. "These assets are public funds. In order to protect the public's interests and safeguard Hong Kong's reputation as an international financial center, I decided to provide liquidity support. I am shocked by the scale of the fraud, and feel more responsible. Scammers must be severely punished by law."

The world of cryptocurrencies is like an endless adventure. When the stars skyrocket, the sea of ​​stars is full of devastation when the sky plummets. But there are always people lighting the lights in troubled times, and Justin Sun is one of the "night watchers" - in the interweaving of ideals and reality, he interprets with his actions: in troubled times, he has both feelings and ambitions.

Ethereum 's Faith Battle: Two Defending

Justin Sun’s entanglement with Ethereum is like a tug-of-war of faith.

On May 19, 2021, the currency circle was full of misfortunes, Bitcoin fell below 31,000, and Ethereum fell below 2,000 US dollars. Justin Sun's 606,000 ETH was hanging by a thread on Liquity Protocol, and he was only 2 minutes away from being liquidated. He spent $300 million to pay off his debts, blocked the liquidation sickle outside the door, and spent $280 million to buy the bottom, buying 54,000 ETH and 4,145 BTC.

He wrote on Weibo: "The funds are safe, but there was indeed a moment when the bullet passed by my scalp, making me sweat. I didn't expect the needle to come so fiercely."

At that moment, he claimed to have "successfully saved the currency circle", with a terrifying confession in his tone, and full of passion for surviving the disaster. This is not a simple transaction, but a person's persistence in faith - not only protecting his own position, but also keeping that little flame for the people in the currency circle.

In the new round of market trends in 2024, Ethereum performed weakly, and Justin Sun was in the forefront again due to his huge ETH holdings. Rumors arise in the community: losses, short selling, clearing up positions... But he turned into an ecological builder and put forward a bold idea: if he takes charge of the Ethereum Foundation, he can drive price growth.

His "market rescue" plan includes suspending ETH sales, optimizing Layer 2 taxes for repurchase and destruction, streamlining foundation operations, adjusting node rewards to strengthen the deflation mechanism, and increasing Layer 1 R&D investment... It is not his crazy words, but another tempering of his faith.

Take over Huobi: From "hot" to "gold-hot"

Even in the past two years, some people joked that "Brother Sun was cheated on Huobi."

In October 2022, Justin Sun became a global consultant to Huobi HTX. At that time, FTX fell, and everyone in centralized exchanges were in danger. Huobi, which was once a benchmark in the industry, gradually lost its color due to regulatory pressure and market changes - military morale was disintegrating, users were lost, and funds were outflowed.

The currency circle is full of bad news, and the community even said bluntly: Justin Sun took over a hot potato. Fortunately, the potatoes that used to be made into gold stamping signs. Now Huobi's trading volume and user activity have steadily recovered, regaining its former glory; the competitiveness of the international market has been increasing, and the euro stablecoin trading volume has ranked among the top three in the world, and the CIS regional market share has firmly ranked third; it was also selected as " Forbes "'s 25 most trustworthy cryptocurrency exchanges in the world in 2025 ", winning the recognition and respect of the industry.

Justin Sun made Huobi not only survive, but also lived a new look. Not everyone has this ambition and execution ability.

FTX Storm: Glimmer Light in the Dark Night

The collapse of FTX is another touchstone for Justin Sun to watch over the currency circle.

In early November 2022, the collapse of FTX shocked the currency circle. Coindesk revealed that its affiliate Alameda Research had poor financial resources and that FTX was suspected of misappropriating customer funds. As soon as the news came out, FTX faced a withdrawal demand of about $6 billion in just 72 hours. Users run, the market crashed, and Bitcoin fell below $16,000.

Justin Sun stood up. On November 10, he publicly stated that he would cooperate with FTX to find solutions and promised to provide 1:1 rigid redemption support for FTX's Tron series tokens (TRX, BTT, JST, SUN) and Huobi platform tokens. The next day, FTX resumed the trading and withdrawal functions of these tokens.

In an interview with Bloomberg, Justin Sun further revealed that he is ready to provide "billions of dollars" of assistance to FTX, but only if he conducts sufficient due diligence on FTX.

In the end, due to its own difficulties in returning, FTX decided to file for bankruptcy. But Justin Sun's efforts have bought time for Tron and Huobi users.

Curve Crisis: 28.8 million dollars stabilize DeFi River

Justin Sun did not stop helping the encrypted world, but turned around and devoted himself to the DeFi world. The Curve crisis is another strong evidence of his actions.

In 2023, Curve Finance was hacked, CRV plummeted, and founder Michael Egorov's $100 million loan was in jeopardy. The shadow of liquidation enveloped DeFi, and the market smelled blood again. At the critical moment, Justin Sun joined forces with Du Jun, DCFGod and Andrew Kang to take over 72 million CRV at a price of 0.4 yuan, and threw down $28.8 million to help Egorov stabilize his position. JPMorgan Chase praised: "This cooperation has prevented the crisis from spreading."

What's even more amazing is that he also took the opportunity to launch the stUSDT pool on Tron, which not only saved Curve, but also added BUFF to himself, allowing Tron TVL to rise against the trend.

Some people questioned that he was carrying private goods, but being able to stand up at this time was a kind of sentiment. You should know that there is never a shortage of smart people in the currency circle, but the courage to gamble for the industry.

**The "lonely pride" of the Night Watcher: Hardcore Conviction under

Controversy**

Justin Sun’s story has never been either black or white. It’s not without controversy. Some say he is high-profile and profit-seeking, while others say he is too ambitious and every rescue brings the shadow of his own career. But when you open these chapters, you will see a night watchman - he chose to light the lights at the coldest moment in the industry.

Huobi changed hands. After becoming a global consultant, he held on with the pressure of hacker attacks and capital outflows, and also promoted the conversion of HT-HTX tokens to activate the ecosystem. ETH held a floating loss, but he did not cut his losses. Instead, he continued to make plans and cooperated with the Trump family's World Liberty Financial (WLFI) to stuff TRX into reserve assets. This resilience made the market believe that he can always find his place in the chaos.

He once said, "I am not here to make quick money. I want to build something that belongs to the future." This sounds like a dream when I was a boy, with a little bit of loneliness and obsession. But who can deny that in those stormy moments, he left hope for this world with his actions.