A well known determine within the crypto trade, Justin Solar, founding father of TRON (TRX) and chief adviser to Huobi, opened up in an uncommon submit on social networks. Particularly, he responded to rumors relating to his Bitcoin investments.

Solar expressed confidence in Bitcoin’s future however clarified that he didn’t take a protracted place on the $69,000 price degree.

This clarification got here in response to a declare by Ki Younger Ju, CEO of CryptoQuant, who alleged that Solar had opened a considerable Bitcoin lengthy place utilizing stUSDT as collateral.

HTX whale saga

Ju claimed that Solar is a mysterious HTX whale, who opened a protracted Bitcoin place at $67,000 with no less than $420 million in positions.

He identified that the USDT reserve was round $24 million and questioned the supply of the collateral, stating that Solar used $460 million price of stUSDT, a stablecoin undertaking with a excessive annual proportion yield, with 89% of the provision in HTX.

Apparently, Ju later deleted his submit, explaining that he supposed to make clear issues with the alternate group. He emphasised that he was not being compensated for this motion and didn’t wish to hurt their enterprise earlier than that they had an opportunity to remark.

Associated

Whereas Solar denied buying BTC on the $69,000 degree, he didn’t tackle allegations relating to his Ethereum acquisitions. Lately, Spot On Chain reported that since Feb. 8, Solar could have purchased 362,751 ETH, price roughly $1.11 billion, through three wallets.