TRON founder Justin Sun has announced that he will now actively trade and share his trades on Twitter. The crypto millionaire plans to buy these altcoins.
TRON (TRX) boss announces he will share trades
Justin Sun says he will donate all of his profits to charity. He said on Twitter today that he will start trading the ‘meme token’, that all positions will be openly trackable.
“I have decided to actively trade meme tokens and promising projects through my public address. Please note that I will personally indemnify all possible damages resulting from these transactions. All proceeds will be donated entirely to charities,” he wrote.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Justin Sun also warns about some issues. First, he bluntly stated that the transactions he shared were not investment advice. He also stated that there is no guarantee of listing on the exchanges he is close to, Huobi Global and Poloniex.
“It is very important to remember that my investments do not constitute financial advice and there is no guarantee of listing these projects on any exchange,” he tweeted. These include (exchanges where it works) Huobi Global and Poloniex. I just buy/sell for fun. Always do your own research before investing!” he warned.
Tron founder will be open supporter of meme tokens
Justin Sun, who is also the owner of BitTorrent, has recently started taking steps towards the meme coin market. On May 7, it announced that it is funding up to $1 million to meme coin developers to encourage it to develop its own Tron network. In addition to monetary support, it also offered a priority list of participating meme coins on Huobi and Poloniex.
Attention meme coin developers! Join #TRON and #BitTorrent with your meme coins, and benefit from our funding support of up to $1 million to reimburse your trading gas fees. Furthermore, top exchanges like @HuobiGlobal and @Poloniex will prioritize the listing of your meme coins. https://t.co/gISRGYEUv3
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 7, 2023
According to the announcement, meme coin developers participating in Sun, Tron, and BitTorrent will be rewarded with financing support of up to $1 million to pay their gas fees. These developers will receive a priority listing of meme coins on major exchanges like Huobi and Poloniex.
By the way, let’s mention that Justin Sun is Huobi’s advisor. He currently serves on the exchange’s Global Advisory Board.
Justin Sun under the SEC’s scrutiny
The cryptocurrency market has been in the focus of US regulators since March. As Cryptokoin.com reported, the SEC sued Tron founder Justin Sun for fraud and market manipulation. This news caused a double-digit drop in Justin Sun-linked altcoins.
Today we charged crypto entrepreneur Justin Sun and three of his wholly-owned companies for the unregistered offer and sale of crypto asset securities Tronix and BitTorrent.
Read more:https://t.co/4tXgKNof6Q
— U.S. Securities and Exchange Commission (@SECGov) March 22, 2023
Now, Justin Sun now plans to share his meme token buy/sell transactions on Twitter. PEPE, GENSLER, TURBO, PIZA are among the meme projects that have been rallying since April. The Tron founder probably plans to focus on new meme tokens. In particular, we may not see meme token giants such as DOGE and SHIB in this list.
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Baby Doge Coin (BABYDOGE)
- Dogelon Mars (ELON)
- SafeMoon (SAFEMOON)
- HOGE Finance (HOGE)
- FEG Token (FEG)
- Akita Inu (AKITA)
- Pepe Coin (PEPE)
- Floki Inu (FLOKI)
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