Justin Sun Denies Liquidation Rumors, Emphasizes Industry Support
CryptoNewsTerminal Staff04 Aug, 2024
Justin Sun Denies Liquidation Rumors, Emphasizes Industry Support
TRON (TRX) founder Justin Sun has taken to Twitter to address rumors regarding his alleged position liquidations. "Rumors about position liquidations are false," he declared. Sun emphasized that the team rarely uses leverage, believing that it does not contribute meaningfully to the industry. Instead, they prioritize activities that provide more tangible support, such as staking, node operations, and liquidity support. Earlier concerns emerged within crypto communities due to significant liquidations of long positions on HTX (formerly Huobi) and speculations about Sun's own DeFi position liquidations. However, Sun's reassurance aims to quell these concerns and highlight his continued support for the blockchain industry.
