Justin Sun owns more TRX than everyone else combined, report
Bloomberg has published information about Justin Sun’s holding of tronix (TRX) tokens, revealing that he controls approximately 63% of all TRX tokens.
Sun, in order to be included on the Bloomberg Billionaires Index, had shared a listing of his cryptocurrency wallets with the Bloomberg team.
Bloomberg then used this list of addresses to determine Sun’s crypto wealth, establishing in their analysis that he controlled a total of 60 billion TRX tokens.
Sun filed a lawsuit, contesting the reporting and alleging that Bloomberg intended to disclose “his highly confidential, sensitive, private, and proprietary financial information.”
Read more: Justin Sun-advised HTX plays games with its reserves
This same profile, which Sun was unsuccessful in stopping, also finally revealed that Sun had purchased HTX in 2022.
Sun has drawn himself closer to the Trump family in the last several months, becoming the largest investor in World Liberty Financial and a large investor in the $TRUMP memecoin, both projects that let the Trump family profit.
World Liberty Financial, for its part, drew itself closer to Sun, naming him an advisor to the project and investing in tokens related to Sun, including Sun-founded TRX and Sun-advised Wrapped Bitcoin (WBTC).
The Securities and Exchange Commission has also paused its case against Sun under this Trump administration.
Read more: Trump-endorsed World Liberty Financial buys Justin Sun tokens
Since then, Sun attempted to move WLFI tokens from an address he controlled to exchanges, leading World Liberty Financial to blacklist his address, effectively freezing his tokens.
Currently Sun represents approximately 99.9% of all blacklisted WLFI tokens.
Sun’s massive holdings of TRX raise substantial concerns about the network’s decentralization and, even more so, its security. Sun could stake his supply and use it to effectively take control of the consensus of the network, endangering every single project that relies on the network.
Despite Sun’s reported majority control of this TRX token supply, TRON still advertises on its website that it will “decentralize the web.”
Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.