Analyst Warns of Possible Collapse: HTX Justin Sun Could be The Next SBF
Discover Crypto channel raises alarms about HTX and Tron's Justin Sun, drawing parallels to FTX's downfall amid SEC charges and past controversies.
The cryptocurrency YouTube channel "Discover Crypto" has expressed suspicions about HTX exchange and Tron founder Justin Sun, comparing him to FTX's Sam Bankman-Fried. They hint that Sun's operations may suffer a similar setback as FTX.
The host believes Justin Sun is running a hazardous business similar to Bankman-Fried's FTX. Sun, the executive behind the multibillion-dollar Tron blockchain, is being investigated for his past deeds and managerial style.
The channel exposed concerning activities in Tron's history, including how Sun made over $70 million from Tron's ICO in 2017 even with China's crypto restriction. They also reported that Sun moved to Korea after that, signaling an attempt to avoid legal consequences.
A workplace harassment lawsuit in the United States in 2019 involved Justin Sun, who was reported for partiality and tampering with documents to cover up the case. These issues, although they are unproven, have an impact on Sun's reputation.
The SEC has charged Justin Sun with market manipulation related to TRX trading. According to Discover Crypto, these allegations could take Sun and his projects down a similar path as FTX and Bankman-Fried.
