TRON’s founder Justin Sun remains undeterred by his nearly $300 million losses, as he has pledged $1 billion to combat FUD.

Justin Sun’s $1 Billion Fund to Combat FUD

Justin Sun, the founder of the TRON ecosystem, has announced the creation of a $1 billion fund aimed at addressing FUD (Fear, Uncertainty, and Doubt) after facing significant losses due to recent market fluctuations. In a recent post on August 5, Sun reassured his followers that the industry has grown significantly over the past year and that the current market fluctuations are not due to negative news.

“We should reject FUD and keep building. That’s why we’re creating a $1 billion fund to combat FUD, invest more, and provide liquidity.”

Impact of Ethereum’s Price Drop

This pledge follows reports indicating that Sun incurred a loss of approximately $280 million due to Ethereum’s recent 20% price drop. Since February, Sun reportedly accumulated over 377,500 ETH at an estimated cost of $1.15 billion through three wallets. With Ethereum’s price currently trading well below his average purchase price of $3,051, Sun’s holdings have significantly devalued.

Sun’s Trading Strategies

Amid the market’s decline, rumors emerged suggesting that Sun had been liquidated. However, the TRON founder refuted these claims, stating that his affiliates rarely engage in leveraged trading strategies.

“Instead, we prefer to engage in activities that provide greater support to the industry and entrepreneurs, such as staking, running nodes, working on projects, and helping project teams provide liquidity.”

Previous Market Interventions

This isn’t the first time Sun has made significant market-related announcements. In early July, as the German government began liquidating thousands of confiscated Bitcoin, Sun publicly expressed his willingness to negotiate a direct purchase to mitigate market impact. Despite his pledge, Bitcoin’s price fell below $55,000, and it remains unclear whether Sun engaged with the German authorities on this matter.

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