On April 2, 2025, Justin Sun once again became a hot topic in the cryptocurrency circle.
According to CoinDesk, Justin Sun provided critical financial support when the stablecoin TrueUSD (TUSD) faced a reserve gap of nearly $456 million, avoiding a potential burst (i.e. the risk of the stablecoin losing its 1:1 anchor with the US dollar).
The founder of TRON described the situation to Hong Kong media Sing Tao Daily in his usual high-profile and dramatic style: Godzilla destroyed the city, and I am Ultraman. I beat Godzilla away with one palm, so I am the one who came to save everyone.
In this storm, Sun Yuchen not only confronted the FDT financial fraud, but also pointed out the 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 a fight for himself, but also a voice for the future of the entire cryptocurrency circle. These assets are public funds. In order to protect the public interest and maintain Hong Kongs reputation as an international financial center, I decided to provide liquidity support. I am shocked by the scale of the fraud, and I feel a great responsibility. Scammers must be severely punished by law.
The world of cryptocurrency is like an adventure with no end. When it soars, there are stars and seas, and when it plummets, there are devastation everywhere. But there are always people who light lamps in troubled times, and Justin Sun is one of them. In the interweaving of ideals and reality, he interprets with actions: in troubled times, there are both feelings and ambitions.
Ethereum’s battle of faith: two times of holding on
Justin Sun’s dispute with Ethereum is like a tug-of-war of faith.
On May 19, 2021, the cryptocurrency world was in mourning, with Bitcoin falling below $31,000 and Ethereum falling below $2,000. Justin Sun’s 606,000 ETH on Liquity Protocol was on the brink of liquidation in just two minutes. He spent $300 million to pay off his debts, blocking the scythe of liquidation, and then spent another $280 million to buy 54,000 ETH and 4,145 BTC at the bottom.
He wrote on Weibo: My funds are safe, but there was indeed a moment when a bullet just grazed my scalp, which made me break out in a cold sweat. I didnt expect the needle to be so fierce.
At that moment, he claimed that he had successfully saved the cryptocurrency world, and his tone was full of frankness and pride after surviving a disaster. This was not a simple transaction, but a persons adherence to his beliefs - protecting his own positions and retaining that weak flame for the people in the cryptocurrency world.
In the new round of market in 2024, Ethereum performed weakly, and Justin Sun was once again in the spotlight due to his huge ETH holdings. Rumors spread in the community: losses, short selling, liquidation... But he turned into an ecosystem builder and put forward a bold idea: if he took charge of the Ethereum Foundation, he could 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 RD investment... These are not his wild words, but another tempering of his beliefs.
Taking over Huobi: From hot to gilded
Even after two years, some people still joke that Brother Sun was badly cheated after taking over Huobi.
In October 2022, Justin Sun became the global advisor of Huobi HTX. At that time, FTX collapsed, and centralized exchanges were in danger. Huobi, once an industry benchmark, also gradually lost its luster due to regulatory pressure and market changes - morale was low, users were lost, and funds were outflowing.
The cryptocurrency community was in a pessimistic mood, and the community even said: Sun Yuchen took over a hot potato. Fortunately, the once hot potato has been turned into a gilded sign. Today, Huobis trading volume and user activity have steadily recovered, regaining its former glory; its competitiveness in the international market has continued to increase, with the Euro stablecoin trading volume ranking among the top three in the world and the market share in the CIS region firmly sitting third; it was also selected as Forbes 25 Most Trustworthy Cryptocurrency Exchanges in the World in 2025 , winning the recognition and respect of the industry.
Justin Sun has not only kept Huobi alive, but also brought it into a new form. Such ambition and execution are not something that everyone has.
FTX Storm: A glimmer of light in the dark night
The collapse of FTX is another test for Justin Sun’s watch over the cryptocurrency circle.
In early November 2022, the collapse of FTX shook the cryptocurrency world. Coindesk exposed the poor financial situation of its affiliated company Alameda Research and the suspicion that FTX misappropriated customer funds. As soon as the news came out, FTX faced a withdrawal demand of about $6 billion in just 72 hours. Users ran for their money, the market collapsed, and Bitcoin fell below $16,000.
Justin Sun stood up. On November 10, he publicly stated that he would work with FTX to find a solution and promised to provide 1:1 rigid redemption support for TRON tokens (TRX, BTT, JST, SUN) and Huobi platform tokens on FTX. The next day, FTX resumed the trading and withdrawal functions of these tokens.
In an interview with Bloomberg, Justin Sun further revealed that he was prepared to provide FTX with billions of dollars in assistance, but only after conducting sufficient due diligence on FTX.
In the end, FTX decided to file for bankruptcy due to its own incurable problems. But Sun Yuchens efforts bought time for TRON and Huobi users.
Curve crisis: $28.8 million stabilizes the DeFi world
Justin Sun did not stop at rescuing the crypto world, but turned to the DeFi world. The Curve crisis is another strong proof of his action.
In 2023, Curve Finance was hacked, CRV plummeted, and the founder Michael Egorovs $100 million loan was in jeopardy. The shadow of liquidation loomed over DeFi, and the market smelled blood again. At the critical moment, Justin Sun teamed up with Du Jun, DCFGod, and Andrew Kang to take over 72 million CRV at a price of $0.4, and threw down $28.8 million to help Egorov stabilize his position. JPMorgan Chase praised: This cooperation prevented the crisis from spreading.
What’s even more amazing is that he also took advantage of the opportunity to launch the stUSDT pool on Tron, which not only saved Curve, but also gave himself a boost, allowing Tron TVL to rise against the trend.
Some people questioned whether he had ulterior motives, but being able to stand up at this time is a kind of sentiment in itself. You know, the cryptocurrency circle has never lacked smart people, but it lacks the courage to take a gamble for the industry.
The Night Watchmans Lonely Passion: Hard-core Beliefs Amid Controversy
Sun Yuchens story is never black and white. He is not without controversy. Some people say that he is high-profile and profit-seeking, while others say that he is too ambitious and that every rescue operation carries the shadow of his own business. But when you open these chapters, you will see the figure of a night watchman - at the coldest moment in the industry, he chooses to light a lamp.
Huobi changed hands, and after he became a global consultant, he managed to hold on despite the pressure of hacker attacks and capital outflows, and also promoted the HT-HTX token conversion to activate the ecosystem. ETH holdings suffered floating losses, but he did not sell them. Instead, he continued to make plans and cooperated with the Trump familys World Liberty Financial (WLFI) to put 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 for the future. These words sound like a dream of a teenager, with a bit of courage and obsession. But who can deny that in those turbulent times, he left hope for this world with his actions.
