But as the saying goes, "the waves behind push the waves ahead", there is also such a "Jia Yueting" in the currency circle. His story may be more "Jia Yueting" than the real Jia Yueting!
He is the legendary figure born in the 1990s nicknamed "Jia Yueting of the cryptocurrency circle" who successfully cashed out 2 billion and fled to the United States - Justin Sun.
From a poor student to a top student at Peking University
Like many children born in the 1990s, Justin Sun was also an internet addict in middle school. In the impression of his teachers and classmates, Justin Sun was never a "good student".
This is largely related to his family. Because of his parents, Sun Yuchen was sent to a boarding school when he was in junior high school. Without his parents' supervision, he fell into the world of online games. During that time, Sun Yuchen pretended to be sick and took leave, and sneaked to the Internet cafe alone to surf the Internet.
But in the end, relying on his extraordinary intelligence, Justin Sun stumbled into Huizhou No. 1 Middle School in the high school entrance examination. After entering high school, Justin Sun lost interest in online games, but fell in love with reading novels. Throughout his high school career, Justin Sun skipped all the classes he could and spent most of his time in the library reading novels. As a result, his grades plummeted and he ranked last in the class.
Sun Yuchen has been an independent-minded child since he was young. In his opinion, accepting the "comprehensive mediocrity" of the exam-oriented education is almost a "great shame". "Limited time and energy cannot cover many subjects that I am not good at. Mathematics is really a tragic thing for someone who specializes in literature and history." Therefore, he does not care about the test results, even if he fails all the subjects.
But one time, the school's hierarchical ceremony made this child with a strong sense of self-esteem feel frustrated. In a mock exam, according to school regulations, the exam seats were arranged according to the scores of the previous mock exam, so Sun Yuchen, who ranked last, was arranged in the last exam room, which made Sun Yuchen very unhappy. This setback made Sun Yuchen secretly determined to study hard.
The originally smooth roadshow promotion was suddenly disrupted: starting from mid-August, mainstream media such as Caixin and Caijing have continuously reported on the chaos of ICO, reminding investors to invest cautiously and prevent being deceived; many industry conferences related to ICO and digital currency were urgently stopped. In particular, on August 30, the China Internet Finance Association issued a reminder on "Preventing Various ICO-related Risks", mentioning that ICO is suspected of fraud, illegal securities, illegal fundraising and other behaviors.
Sun Yuchen, who was concerned about the "big stick" in the air, accelerated the pace of ICO. The ICO of TRON, originally scheduled for September 9, was urgently announced to be moved up a week to September 2. On September 3, Sun Yuchen announced on his personal Weibo that the ICO of TRON had officially been completed.
Ordinary people who don’t know much about blockchain technology learn more about it through Justin Sun’s personal live broadcasts, offline roadshows and official website promotions.
It was mentioned many times in the pre-ICO publicity of TRON that TRON was founded by Sun Yuchen, the former chief representative of Ripple in Greater China, a student of Jack Ma's Lakeside University, and "Jack Ma's disciple". Its investors include Bitmain CEO Wu Jihan, Xinzhongli Capital Chairman Wang Chaoyong, OFO founder Dai Wei, Ripple Coinbase investor, Frees Capital partner Li Feng, FBG Capital partner Zhou Shuoji, Quantum Chain founder Shuai Chu, angel investor Xue Manzi, etc.
However, when we open the official website of TRON to check its development history, we find that TRON has been relying on financing and issuing coins to maintain its operation, without any technical innovation. Even the white paper is a plagiarized modification.
On the acting skills of "swindlers"
As expected, on the second day after Tron completed its ICO, regulators issued the “Announcement on Preventing the Risks of Token Issuance and Financing”, halting all types of ICO activities and demanding the return of coins.
At this time, Justin Sun had raised about 400 million yuan through ICO. For safety reasons, Justin Sun returned all the coins raised through ICO.
As the saying goes, "There are policies above and policies below." Sun Yuchen, who had just returned his coins in China, rushed to the United States without stopping to continue his promotional activities for TRON in the United States.
In October of the same year, TRON was listed on overseas exchanges and began to be publicly traded. At the beginning, the market price of a TRON coin was only 1 cent. But from the end of November, as the price of Bitcoin continued to rise, the market began to gradually pick up. By December, the price of TRON was raised to 2 yuan.
As Tron continues to rise, some netizens have discovered that at least 50% of Tron is stored in the same wallet. The proportion of retail investors in circulation is only 9%, and the circulating market value is less than 45 million yuan, which is completely inconsistent with the Tron white paper allocation plan. In other words, Tron is highly controlled by one or several dealers. Sun Yuchen has long been ready to cut retail investors.
Some netizens discovered that the transaction records of Justin Sun’s wallet showed that his wallet sent 200 million Tron coins to Binance and other trading platforms every day in exchange for Ethereum. This behavior lasted for 19 days. In other words, Justin Sun exchanged 6 billion Tron coins. According to the price of the currency at the time, Justin Sun cashed out 12 billion.
After this move, Tron also fell all the way, and the drama of cutting leeks began.
As the saying goes, you have to act the whole part. Today, Justin Sun is also imitating Jia Yueting's tricks thousands of miles away in the United States, occasionally posting a Weibo post about hiring, in order to cover up the fact that he is not escaping from the ICO scam, but just going to the United States to build cars and pursue his dreams like Jia Yueting.
Life is like a play, it depends on acting! At this moment, Sun Yuchen is on some small island in the United States, smelling the "fragrance" of money, free and easy...#美国以太坊现货ETF开始交易 #美国PCE数据将公布 #拜登退选 #美国大选如何影响加密产业？ $BTC $ETH $BNB
