Justin Sun

2022 - 11 - 11

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Image courtesy of "Coindesk"

TRX Momentarily Surges 4000% on FTX After Justin Sun Emerges ... (Coindesk)

Tron network's native TRX token momentarily surged some 4,000%, from 6 cents to $2.50, on embattled crypto exchange FTX even though they are trading for 6 ...

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). Prices corrected to 32 cents as of writing time – hours after Sun’s tweet – and still trade at a 400% premium compared to other exchanges. [strict set of editorial policies](/ethics/). The high prices are a sign of hope – a hope that Tron-based assets will be redeemed on a 1:1 basis by Tron founder Justin Sun. The sentiment was quick to improve. Sun’s play is to attract, and honor, Tron-based assets like BTT and SUN, as well as Huobi’s native HT tokens, stemming from FTX.

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Image courtesy of "Crypto Briefing"

Is Justin Sun About to Bail Out FTX? TRON Boss Swoops in as SBF ... (Crypto Briefing)

TRON founder Justin Sun is the latest crypto billionaire said to be lending his aid to the embattled crypto exchange FTX.

Crypto sleuths have pointed out that Bankman-Fried [confirmed on Twitter](https://twitter.com/SBF_FTX/status/1575112446460588035) that FTX was “rotating a few FTX wallets” in September, which has raised suspicion that he was fraudulently moving assets over to Alameda. [A Thursday report](https://www.reuters.com/technology/exclusive-behind-ftxs-fall-battling-billionaires-failed-bid-save-crypto-2022-11-10/) from Reuters alleges that Bankman-Fried moved $4 billion worth of FTX funds to save Alameda Research after the trading firm suffered losses in the wake of Three Arrows Capital’s collapse, which would place the disgraced 30-year-old executive in a tight spot if confirmed. Whether Sun can save FTX, and what that would mean for Alameda, remains to be seen. It’s rumored that FTX could have a hole of up to $10 billion in its balance sheet, though the full extent of the damage is unknown. [on Twitter](https://twitter.com/justinsuntron/status/1590539831276634112?s=20&t=5X0SqSlVdkP9O3ReqzKu8Q) to say that he was looking at ways to help FTX. “We have had talks with Justin Sun.” Cobie claimed that he had verified the note as genuine with another source.

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