Tron founder Justin Sun’s $1.6 billion wallet balance dominates HTX $4.9 billion reserves

Justin Sun, the founder of the Tron network, owns over a quarter of the sources on the HTX (previously Huobi) change reserves, as printed in a screenshot of his pockets steadiness disclosed on social media platform X (previously Twitter) on Feb. 27.

Even supposing the screenshot lacks a close breakdown of his portfolio, Sun’s full crypto holdings on the platform are neutral like roughly 28,614 units of Bitcoin, valued at roughly $1.6 billion.

Sun shared this pockets steadiness to direct his mammoth engagement with HTX, a crypto change where he holds an advisory role. This disclosure is available in accordance with frequent social media allegations questioning his active platform use.

Sun said:

“In my conception, I use just about all major exchanges and am a supporter of these exchanges. Nonetheless, if somebody says I seldom use HTX.com, that is more likely to be wrong. I’m a heavy person of HTX. My interior most use of HTX is the identical as all HTX customers, believing and trading.”

Meanwhile, Sun’s screenshot ignited several debates within the crypto community, with some suggesting that the image can even very smartly be false.

Adam Cochran, a VC agency Cinneamhain Ventures partner, pointed out the stark distinction between Sun’s steadiness and HTX’s reported Bitcoin holdings. He said:

“So Sun is claiming his interior most HTX steadiness of BTC, is bigger than the entire amount of BTC that HTX reports in wallets (as sources by DefiLlama) So either false or HTX has no valid customers varied than Sun, or he comingle a their sources as his.”

HTX reserves

CryptoSlate analysis of assorted on-chain service suppliers, in conjunction with Arkham Intelligence and DeFillama, reveals that Sun’s sources myth for a in truth intensive fragment of the HTX reserves, albeit with some variance.

Per Arkham Intelligence’s HTX dashboard, Sun’s sources comprise roughly 27% of the change’s full reserves, valued at $5.9 billion. The dashboard highlights over 23,700 BTC valued at $1.4 billion and 9.3 billion Tron tokens, estimated at $1.3 billion, amongst the change’s top holdings.

Conversely, contrasting recordsdata from DeFillama suggests that Sun’s sources constitute practically 50% of HTX reserves, with the change’s reserves valued at roughly $3.83 billion.

Meanwhile, HTX’s publicly disclosed reserve certificates voice their non-public praises holdings of nearly $3.5 billion in sources as of Feb. 1. These sources embody 540 million USDT, 21,543 BTC, 109,000 Ethereum units, and 9.4 billion TRX tokens.