Justin Sun Denies Recent Rumors
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April 11, 2023 7:34 pm
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Earlier today, Twitter was ablaze with false rumors and misinformation regarding Tron founder Justin Sun’s arrest.
Social media influencers within the crypto space falsely reported that Sun was arrested by authorities in Hong Kong—causing the rumor mill to turn wildly.
Sun responded by posting just one digit to some of the accounts spreading the misinformation—the number 4, the number Changpeng Zhao, CEO of Binance, previously used to denote FUD. …
CZ even chimed in during this latest round of fear, uncertainty, and doubt plaguing the online crypto space.
Though the news concerning Sun was not accurate, it does reflect current tensions and anxieties reflective of market sentiment in this turbulent regulatory environment for cryptocurrencies.
Here is just one of these now-debunked posts from earlier:
JUSTIN SUN responded to arrest rumours. pic.twitter.com/05UrqWfVfk
— CryptoCrunchApp (@CryptoCrunchApp) April 11, 2023
Justin Sun Arrest news ❌ was a FUD
@cz_binance & @justinsuntron respond by tweeting "4" #crypto #trx #bttc pic.twitter.com/1VcnRyHnDn
— Crypto with Khan ( SFZ ) (@Cryptowithkhan) April 11, 2023
Ethereum World News reports that TRX took a tumble in response to the fake news:
Meanwhile, the reports of his arrest induced considerable volatility in Tron network’s native cryptocurrency TRX. The cryptocurrency tanked nearly 3% from its daily high, falling as low as $0.065, before pulling back up to $0.67. At the time of writing, TRX was trading at $0.0665.
🚨 Rumors of Justin Sun's arrest cause brief dip in Tron's #TRX price 📉 Sun quickly denies the rumor and the market stabilizes 💹 How did this rumor affect the digital asset sector? 🤔 #Tron #JustinSun #CryptoNews pic.twitter.com/5ksy8VOdcs
— Zein (@ahmedzein12) April 11, 2023
Just two weeks ago, CoinDesk had this to report on Sun:
Justin Sun, founder of the Tron blockchain, is no longer a diplomat for Grenada.
According to a report from the Grenada Broadcasting Network this week, Sun was stripped of his status as ambassador sometime after elections held in June 2022, when the New National Party, which granted Sun his position, was ousted by the National Democratic Congress.
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