Sun Yuchen's three major businesses, public chain coin issuance, stablecoins, and exchanges, have all developed very well, especially the stablecoin map based on Tron has continued to grow. Currently, half of USDT issuance is issued on Tron. In addition to USDT, Tron's stablecoin map mainly includes TUSD, USDJ, USDD, and offshore RMB stablecoins TCNH, CNHT, etc.
USDC recently announced that it would stop supporting Tron. Before February 2025, all USDC based on Tron must switch to other blockchains. The reason is not difficult to guess. USDC's parent company Circle is preparing to go public, and Justin Sun is currently being investigated by the US government. Therefore, in order to avoid unnecessary compliance issues, USDC stopped supporting Tron.
By February 2025, Circle USDC users can transfer USDC to other blockchains or exchange USDC on TRON for fiat currency directly through Circle. However, the transfer of USDC on TRON from Circle Mint to external wallets is no longer supported.
The main stablecoins currently include USDT, USDC, DAI, FDUSD, TUSD, USDD, etc.
Tron basically controls the entire stablecoin ecosystem. Circle’s cessation of minting USDC on Tron will not affect Tron’s dominant position. As the US government is expected to set its sights on the fat piece of meat of Tron, the time for Justin Sun to hand in his pledge will come sooner or later.
Some recent actions of Justin Sun
Tron, owned by Justin Sun, will launch a solution based on Bitcoin layer 2, which is to further expand the application scenarios of Tron and expand the entire ecosystem. The profits of Tron will continue to flow to Justin Sun.
Justin Sun has started promoting USDD again. USDD is also operated by Tron Dao under Justin Sun. It is also to expand the stablecoin territory of Tron. The current market value is relatively low, far behind USDT and USDC.
TUSD was also created by Justin Sun. Its current market value is second only to FDUSD under Binance. However, overall, Tron still relies mainly on USDT. More than half of USDT is minted on Tron. It can be said that if there is no USDT, Justin Sun will lose hundreds of millions of dollars every year. At present, Tether, the issuer of USDT, has not made any moves. Recently, it has been issuing more USDT on Tron.
Justin Sun tries to replace CZ and become the top cryptocurrency influencer
Sun Yuchen's English is not very good, and he probably hired someone to represent him on Twitter. CZ used to be interviewed on CNBC, but Sun Yuchen mostly recorded a video and uploaded it to Twitter, LinkedIn and other social media. He basically spoke in Chinese. Sun Yuchen also gained a lot of attention from foreigners, but not as much as CZ. The vacuum after CZ's departure brought Sun Yuchen a huge bonus. The cryptocurrency circle relies on gimmicks and traffic. Without traffic, there will be no leeks, and naturally no money.
Recently, Bill Gates advised people not to buy Bitcoin, believing that the price of Bitcoin is easily affected by social media. It can only be said that Gates is either stupid or bad. Without the media, there would be no leeks, and the same is true for the U.S. stock market.
Justin Sun introduces Restaking to Huobi, Huobi HTX starts liquidity restaking
I looked at it for a long time and it turned out to be the same as Binance launch pool. Staking BTC, EH, USDT, HTX, TRX can get token rewards, which is the same as Binance staking bnb to get new coin rewards. However, it is obvious that Justin Sun is better at fooling the leeks. It should be said that a large number of leeks have gathered around Justin Sun. These leeks have been repeatedly fucked by Justin Sun, but despite this, these leeks are still willing. There is a line in American TV series, "For every gorgeous woman out there's a guy tired of banging her." Behind every beautiful woman, there is always a man who is tired of fucking her, but it is obvious that the leeks are not tired of being fucked.
Justin Sun said that we cannot be evil
Sun Yuchen and Huobi have done too many things to make money, and now they are saying don’t do evil, which is ironic. What a person says is not important, what is important is what Huobi has done in the past.
Please pay attention to Justin Sun, but don’t trust Justin Sun easily
Sun Yuchen represents a kind of wild force, he has energy, but he did too many disgusting things before, and he dared not return to China. I don’t believe that he can be good. Most bad people just pretend to be good people all their lives, and they will never be good people. However, I really admire Sun Yuchen’s ability to call on leeks, so I will also pay attention to Sun Yuchen, and even buy tokens such as HTX and TRX, because he has indeed done some things. Although he has adopted some unconventional villain methods, he is indeed a KOL that cannot be ignored in the currency circle!
Illustration: The evil eye is watching everyone
