Latest news with #JustinSun
Yahoo
17 hours ago
- Business
- Yahoo
TRON Jumps After Sun's Tweet, Network Volume Hits All-Time High
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. TRON (CRYPTO: TRX) is trading at $0.2688, after a price spike of 4.2%. According to CoinMarketCap, the surge came within two hours following a tweet from TRON founder, Justin Sun, on June 3, making TRX the 9th largest crypto. Sun tweeted 'looking forward to it', which reflected interest generated by his social media activity. According to BeInCrypto, market interest is influenced by TRON's network performance. TRX recorded a new all-time high in monthly transfer volume in May 2025. Per TradersUnion, analysts reported that 490.3 billion TRX were transferred, which is equivalent to $132.4 billion at a price of $0.27. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. New to trading crypto? on Coinbase. The volume was a 34% increase from the 362.92 billion transferred in April 2025. TRON overtook Cardano (CRYPTO: ADA) in May to become the 9th largest cryptocurrency by market capitalization. TRON's market cap climbed to nearly $26 billion, while Cardano's dropped to $23 billion. The ranking grew as TRX's price rose 8.8% in May, per BeInCrypto. According to The Tradable, TronDAO initiated a series of unusual TRX movements, leading to community discussions about a possible sell-off. 10 transactions moved a total of 8,777,561,962 TRX to unknown wallets. TronDAO has not provided explanations for these transfers. According to a 45% surge was observed in large TRX transactions within a 24-hour period, amounting to over $215 million. TRX price is in the $0.27-$0.275 range. The consolidation indicates a mismatch between selling and buying pressure. It places TRX in a critical zone where its direction could change quickly based on market conditions. Traders should note potential false breakout signals above the $0.274 mark. The $0.255 area could become a zone for short-term buying if a positive price reaction occurs. Sun's tweet and May's record network activity offer a potentially bullish backdrop, with some forecasts targeting $1 per token. Per CoinJournal, TRX requires a 270% price increase from its current level to reach the $1 mark. Growing network activity and rising adoption indicate a potential for continued upward price movement for TRX in the near to medium term. The unexplained large TronDAO transfers and current price consolidation require close observation. More Opportunities: Grow your IRA or 401(k) with Crypto – . Trade, earn, and grow your crypto portfolio with — . Image: Shutterstock This article TRON Jumps After Sun's Tweet, Network Volume Hits All-Time High originally appeared on
Forbes
3 days ago
- Business
- Forbes
Justin Sun Is Bullish On Dubai And Stablecoins. Here Is Why.
Justin Sun at Token 2049 conference in Dubai on May 1, 2025. (Photo by Giuseppe CACACE / AFP) (Photo ... More by GIUSEPPE CACACE/AFP via Getty Images) Justin Sun, the multi-billionaire behind Tron, is doubling down on Dubai as the crypto capital of the world. With Tron's network moving an eye-popping $20 billion in stablecoins every day, Sun's enthusiasm for the UAE is a strategic move. 'Everyone who matters in crypto is already here,' he told me on the sidelines of Token2049, the largest event in crypto that brought hundreds of international speakers and 15,000 attendees. We sat down to explore why he sees Dubai as the next frontier, how stablecoins are a cornerstone of Web3, even touched on how President Trump has become focal points of both public praise and scrutiny, as bitcoin and crypto increasingly intersects with politics, a dynamic that continues to shape the broader conversation around the industry. 'Previously, I would have pointed to Singapore as the crypto center," Sun said. "But now? It's definitely Dubai.' He is not alone in that view. From the largest exchanges, such as Binance and ByBit, to layer-one protocols, Dubai has become the go-to jurisdiction for launching and scaling crypto ventures, outpacing traditional strongholds like Singapore and Switzerland. Sun is observing this shift and acting on it. Tron and their affiliated businesses are in the process of securing regulatory approvals from multiple UAE virtual asset regulators, and Sun is excited to be laying roots in the region. 'We see our investments here in Dubai as pivotal for us and the entire industry,' he explained, highlighting plans to grow his team, host more events, and make the UAE a strategic anchor for Tron's global expansion. Sun's message is clear: Dubai is the strategic headquarters of Tron's next chapter. In addition to Dubai, Sun is also bullish on the future of stablecoins. 'In 2024, we processed around $5 trillion in stablecoins' Sun said casually. 'In 2025, we expect $7 trillion.' Yes, trillion. And that is not total market cap, it is on-chain volume, driven mainly by USDT running on the Tron network, at a pace of $20–30 billion per day. 'We've already surpassed the volume of some of the biggest traditional finance systems such as Visa,' he said. 'And we're just getting started.' Beyond transaction volume, Tron's growth in users is hard to ignore. With over 300 million wallets and an average of 250,000 new users per day, Tron is scaling faster than most blockchains outside of Ethereum. What is the appeal of Tron chain for stablecoins? It is fast and it costs almost nothing. Unlike Ethereum, where a simple stablecoin transfer can set you back $10 per transfer at times, on Tron you will pay less than a cent. 'We built Tron network for the world,' Sun added. 'It's borderless, inclusive, and designed for scale.' Sun's advisory role in the USD1 stablecoin project, tied to World Liberty Financial, has attracted attention, particularly because of the Trump family's involvement in related ventures in Dubai. 'I'm here to support them in building a robust crypto and stablecoin product,' he said. 'But this is their project. I'm just helping where I can, with no other links.' Some might see conflict in such close ties, but Sun sees alignment. In fact, he credits President Trump with bringing regulatory clarity to the United States at a time when the crypto industry was flailing in the dark. 'He's the only one who stepped up and gave clarity,' Sun said. 'And when the U.S. moves, the world watches.' Sun's bet is that pro-crypto leadership in the U.S. will drive a new wave of global adoption, and he plans to be on the front lines, supporting this administration that backs innovation. The stablecoin market currently stands at around $250 billion, which may sound substantial, until you realize it is a rounding error in a global fiat system worth over $130 trillion. For Sun, this is his starting block. 'What happens when we're processing $400 trillion a year on-chain?' he challenged. His vision is clear: every major currency - USD, EUR, JPY, CNY, AED - will eventually have its blockchain-native version. And Tron intends to be the rails beneath them all. 'We're not talking about digitizing dollars,' he explained. 'We're talking about moving the world's money infrastructure to blockchain. That's the real revolution.' When challenged about Tron's revenue streams, he said, 'Before we reach 8 billion people, we won't even think about monetization. We're building the future. Profit comes after impact.' It is a high-stakes approach, prioritizing reach and infrastructure over revenue. But in a space that rewards early network dominance, it may prove to be the right kind of patience. For anyone watching the evolution of money, one thing is clear: stablecoins are no longer a niche phenomenon. They are the core engine of Web3. And with chains like Tron driving volume, regulatory engagement, and infrastructure, the next wave of financial innovation will not be built by banks. It will be built on-chain. And it will be settled, according to Justin Sun on Tron.
Cision Canada
29-05-2025
- Business
- Cision Canada
HTX DAO and HTX Ventures at Bitcoin 2025: Empowering the Global Rise of the Bitcoin Ecosystem
SINGAPORE, May 29, 2025 /CNW/ -- HTX DAO and HTX Ventures, two integral forces within the HTX ecosystem, proudly participated in Bitcoin 2025, the world's premier Bitcoin summit held in Las Vegas. Engaging with global crypto leaders, they actively explored the future of Bitcoin and the broader digital asset industry—while supporting innovation and accelerating transformation across the decentralized ecosystem. Justin Sun, Advisor to HTX and Founder of TRON, joined a high-profile panel discussion during the event, where he shared invaluable insights on Bitcoin's evolution, WBTC's critical role in smart contract integration, and how U.S. policy signals are shaping worldwide adoption. "One of the biggest lessons I've learned since entering crypto in 2012 is: never bet against Bitcoin," said Sun. "We've already seen Bitcoin surpass $110,000, and I firmly believe that as long as we keep building, Bitcoin will continue to hit new highs." Reflecting on his recent engagement with U.S. President Donald Trump, Sun emphasized the significance of political support for the industry, "President Trump's backing is monumental. Without his support, Bitcoin wouldn't have broken $100,000. The U.S. plays a leading role in global financial regulation—once it sets a clear crypto policy, other countries will follow. This will speed up global Bitcoin adoption and bring more people into the crypto space." Sun also spoke in depth about Wrapped Bitcoin (WBTC) as a gateway for unlocking Bitcoin's potential in the smart contract world, "WBTC enables Bitcoin holders to interact with DeFi, earn yield, and use BTC as collateral across Ethereum, TRON, Solana and more. It transforms Bitcoin into a programmable asset. With proof-of-reserve, on-chain transparency, and cold storage security, WBTC is both safe and powerful." Looking ahead, Sun forecasted that traditional financial products will inevitably migrate onto the blockchain, creating new opportunities for yield and arbitrage, "WBTC is just the first step. In the future, all financial products—stocks, bonds, stablecoins—will be brought on-chain. Transparency and decentralization will define the next generation of global finance." Immersive Community Experience by HTX DAO and HTX Ventures During the event, HTX DAO and HTX Ventures unveiled a life-size replica of Justin Sun's iconic space capsule, inviting attendees to participate in an immersive and shareable experience. Visitors were encouraged to follow @HTX_DAO and @Ventures_HTX on X (formerly Twitter), and post creative selfies using the hashtag #HTXDAOLasVegas. Winners received up to 100 USDT in crypto rewards. The activation quickly became a highlight of the event. Notably, Bitcoin 2025 gathered an impressive lineup of high-profile speakers, including U.S. Vice President JD Vance, Eric Trump, White House advisor on AI and crypto David Sacks, MicroStrategy Co-Founder Michael Saylor, and BitMEX Co-Founder Arthur Hayes. Throughout the conference, these leaders engaged in in-depth discussions on Bitcoin ecosystem development, regulatory policy, technological innovation, and global adoption—providing valuable direction for the industry's future. Continuing the Mission to Empower Web3 Through thought leadership and creative engagement, HTX DAO and HTX Ventures demonstrated their ongoing commitment to building a smarter, more accessible Bitcoin ecosystem. About HTX DAO As a multi-chain deployed decentralized autonomous organization (DAO), HTX DAO demonstrates an innovative governance approach. Unlike traditional corporate structures, it adopts a decentralized governance structure composed of a diversified group, jointly committed to the success of this organization. This unique ecosystem advocates openness and encourages all DAO participants to propose ideas that can promote the development of HTX DAO. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With more than a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures currently backs over 300 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global funds and collaborates with leading blockchain funds such as Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca, and Hack VC to jointly build a blockchain ecosystem. Visit us here.
Arabian Post
26-05-2025
- Business
- Arabian Post
Tron's USDT Surge Redefines Global Stablecoin Landscape
USDT activity on the Tron blockchain has reached unprecedented levels, with the circulating supply now at $77.7 billion, monthly transaction volumes exceeding $611 billion, and over 65.6 million transfers recorded. This surge underscores Tron's emergence as a dominant force in the stablecoin ecosystem, surpassing traditional financial networks in transaction throughput. Tron's ascent in the stablecoin market is attributed to its high-speed, low-cost infrastructure, which has attracted a vast user base. The network boasts over 300 million accounts, processing more than 14 million USDT transactions weekly, accounting for approximately 69% of global USDT activity. This dominance is further highlighted by Tron's surpassing of Visa's daily average transaction volume, with USDT on Tron reaching $53 billion in a single day compared to Visa's $42 billion. The network's efficiency has made it a preferred choice for users in regions with limited access to traditional banking services. In Africa, for instance, 85% of users rated the Tron network five stars, citing its stable and low-cost payment experience. Similarly, in Argentina, a partnership with local e-commerce platform Kripton has enabled over 2,000 merchants to accept USDT payments, facilitating more than 100,000 transactions and $2 million in volume within 18 months. ADVERTISEMENT Tron's technological advancements, including the launch of the 'Gas Free' USDT transfer feature, have further reduced transaction costs, solidifying its position in the payment sector. The network's ability to process thousands of transactions per second with minimal fees has been instrumental in its widespread adoption. Despite its rapid growth, Tron's association with founder Justin Sun has attracted scrutiny. Sun, who has faced investigations by U.S. authorities for alleged market manipulation and facilitating illicit financial activities, recently returned to the U.S. to attend a dinner with former President Trump. His involvement in Trump's crypto ventures, including a $75 million investment in World Liberty Financial and a significant stake in the $TRUMP memecoin, has raised concerns about potential conflicts of interest.
Yahoo
25-05-2025
- Business
- Yahoo
Trump's VIP dinner had at least 16 guests wearing Richard Mille watches, attendee claims
President Donald Trump hosted the VIP dinner for the top 220 holders of the TRUMP meme coin on May 22. The much-publicized private event attracted significant media scrutiny due to the alleged conflict of interest arising from Trump's engagement with several crypto ventures, including the eponymous meme coin. Several high-profile guests attended the black-tie dinner as a networking or promotional event. Chinese-born crypto billionaire Justin Sun, who launched the TRON cryptocurrency, was the most high-profile guest who said Trump "awarded" him a Golden Tourbillon watch. Sun bought TRUMP tokens worth $19 million, the most among all the guests, to attend the dinner. Russian-born crypto entrepreneur Nikita Anufrieve told the Wall Street Journal, 'This is a historical moment, when the 47th President, Donald Trump, performed a speech for us. You cannot compare it to any reward.' He said he spoke with more than 50 guests at the event. Former NBA star Lamar Odom used the dinner to promote his own cryptocurrency, ODOM. It is a Solana-based anti-addiction-themed meme coin. Odom is well-known for his several appearances on the reality TV show "Keeping Up with the Kardashians" during his marriage to Khloé Kardashian from 2009 to 2016. However, the experience left a bad taste in Nicholas Pinto's mouth. Pinto, one of the 220 guests, told WSJ he bought the meme coin the day Trump released it. 'I am very disappointed that President Trump didn't spend more time at the event. He was not interacting with us,' said Pinto, whose father drove him in a Lamborghini to Trump's golf club just outside Washington, DC, for the dinner. Trump gave a speech for around 23 minutes and then left, Pinto told WSJ. 'I wasn't very impressed by the speech, to be honest." Trump's associate Bill Zanker, who helped him launch the meme coin, also delivered a speech at the event. Pinto also complained that Trump didn't talk to "any of the 220 guests — maybe the top 25,' CNBC reported. 'The food sucked,' Pinto said. 'Wasn't given any drinks other than water or Trump's wine. I don't drink, so I had water. My glass was only filled once.' Pinto also underlined the not-so-subtle opulence at the dinner where Richard Mille watches "weren't even rare.' Pinto said, 'I saw at least 16 people wearing them. Richard Mille is a Swiss luxury watch brand that creates high-priced clockwork watches. Tron founder Justin Sun's presence at the dinner stoked enough controversy. As previously reported, the Securities and Exchange Commission (SEC) had sued him in March 2023 for selling unregistered securities. After Trump won the presidential election in November 2024, Sun funneled $30 million into the Trump family-backed crypto venture, World Liberty Financial. Thereafter, the regulator, Tron, and Sun jointly urged the court in February 2025 to stop the proceedings. The event drew intense criticism from the Democrat senators. Sen. Chris Murphy (D-CT) said in an X post, "Trump's meme coin is designed to facilitate corruption." If it was a legit dinner, Trump would release the list of attendees, but since it's corrupt, the guest list is hidden, Murphy continued. Sen. Elizabeth Warren (D-MA) called it "an orgy of corruption." About 100 demonstrators showed up to protest the gala event, decrying, "America is not for sale." Launched on Jan. 17, the TRUMP meme coin has slipped 20% since the dinner night and was trading at $12.73 at press time. Trump's VIP dinner had at least 16 guests wearing Richard Mille watches, attendee claims first appeared on TheStreet on May 25, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
