SPACE TRIP AND CRYPTO BLOOMBERG LAWSUIT
In August 2025, Justin Sun made headlines for his space journey and a legal dispute. As the founder of Tron, he paid $28 million to win a seat on Blue Origin’s NS-34 mission. On August 3, he completed a 10-minute suborbital flight, becoming the first Chinese commercial astronaut. This trip boosted his global fame and promoted the Tron brand.
However, soon after, Sun sued Bloomberg in a U.S. Delaware court. He claimed Bloomberg broke a confidentiality agreement by revealing details of his crypto holdings, including over 60 billion TRX. He said this exposed his wallet addresses, risking hacks or kidnapping. Bloomberg responded that it will fight the lawsuit, saying the First Amendment protects its reporting. This case highlights the tension between wealth transparency and personal security for crypto tycoons, putting Sun’s vast fortune in the spotlight.
CRYPTO STARTUP AND RISE
Justin Sun, born in 1990 in Qinghai, China, moved to Guangdong with his family at age four. In 2007, he won a national writing competition, earning a spot at Peking University to study literature and history. Later, he pursued a master’s degree at the University of Pennsylvania, where he became interested in Bitcoin, which sparked his career in cryptocurrency.
In 2013, he helped launch Peiwo, a social media platform, and joined Ripple Labs. In 2017, he founded Tron, a decentralized blockchain platform, raising $70 million through an initial coin offering (ICO). Despite China’s later ICO ban, Tron grew fast, with over 300 million user accounts by June 2025, according to Tronscan.
CRYPTO EMPIRE AND INVESTMENTS
Sun’s wealth mainly comes from his cryptocurrency holdings and business ventures. A February 2025 financial analysis shows he holds over 60 billion TRX, with a 75% liquidity discount due to his control of most of the supply.
He also owns about 17,000 Bitcoin (BTC), 224,000 Ethereum (ETH), and 700,000 Tether (USDT), with no discount as they are less than 1% of each supply. The analysis only includes on-chain tokens, not those on exchanges like HTX or Binance.
In business, Sun bought BitTorrent in 2018 for $140 million and acquired the HTX crypto exchange (formerly Huobi) in 2023. HTX earned about $1.3 billion in 2024, based on trading volumes and fees. Its value uses the average price-to-sales ratio of Coinbase, Galaxy Digital, and Riot Platforms, with a 50% liquidity discount.
Sun owns about 90% of HTX. In November 2024, he invested at least $75 million in World Liberty Financial, a crypto project backed by Donald Trump, and became an advisor. In June 2025, his father, Weike Sun, invested $100 million in TRX for shares and warrants in SRM Entertainment Inc., which rebranded as Tron Inc. Justin Sun joined as an advisor.
LEGAL CHALLENGES AND INDUSTRY IMPACT
Sun’s career has faced hurdles. In March 2023, the U.S. Securities and Exchange Commission (SEC) sued him and the Tron Foundation, alleging market manipulation through wash trading of TRX and BitTorrent tokens (BTT) and selling unregistered securities.
In March 2024, Sun’s lawyers moved to dismiss the case, calling the SEC’s claims overreaching. In February 2025, both sides asked to pause the lawsuit to seek a settlement, hinting at a possible shift in crypto regulations under the Trump administration.
Sun’s space trip and ongoing legal battles highlight his complex role as a crypto pioneer. He drives Tron’s growth through bold investments and social media, including promoting meme coins.
He also supports global crypto projects like World Liberty Financial. Moving forward, Sun is likely to shape the blockchain industry through innovation and strategic investments, but he must navigate regulatory pressures and public controversies. His story reflects both personal success and the challenges of the crypto world.
