Brother Sun's currency circle wealth mystery: from sky-high artworks to unregulated transactions

When it comes to Brother Sun, the first thing that comes to mind is the banana that was auctioned at a sky-high price of $6.2 million and chewed off in public in Hong Kong. At the time, the post-90s entrepreneur claimed it was part of the “art experience,” but think about it, is $6.2 million really art? No, the real value lies in the global spotlight. And the person who successfully attracted the attention of the world is Brother Sun - Justin Sun. The story of this “Jia Yueting in the currency circle” hides the most heart-wrenching truth in the virtual currency world.

From a genius boy to a “cut hand”: Brother Sun’s identity change

What kind of person is Brother Sun? On the surface, he is the self-proclaimed “youngest disciple of Jack Ma” and the only post-90s student in the first phase of “Lakeside University”. When he graduated from the Department of History of Peking University, his grades were the first in the department. He then entered the Ivy League school of the United States, the University of Pennsylvania, and these aura made him look destined to be extraordinary.

But it was Bitcoin that really changed the trajectory of his life. During his time at Penn, he gambled all his net worth and earned his first 10 million in his life by relying on the fluctuation of digital currency. After tasting the sweetness, he was no longer satisfied with being an investor, but decided to become a builder. In 2017, Sun created Tron, a blockchain-based decentralized digital currency, which was supposed to be a new peak in his career.

On September 2 of that year, TRON completed 600 million yuan in financing in China. But the turning point of fate came two days later when seven national ministries and commissions issued announcements to prevent the financing risks of token issuance, demanding the cessation of virtual currency issuance and the return of funds. When he learned the news, Brother Sun, who was in South Korea, resolutely stated in the live broadcast that he would “not refund the coin”, and the TRON office immediately went to the building. A week later, he flew from Seoul to San Francisco. Since then, “Brother Sun” has had a ridiculous nickname - “Sun Ge”.

The mystery of the skyrocketing TRON currency: how Brother Sun manipulated the market to cash out 12 billion

On the surface, the follow-up story of TRON Coin seems to be very “inspirational”. In October 2017, TRON was launched on overseas exchanges at a price of 1 cent per coin. At that time, Bitcoin was very popular, and anything with the concept of blockchain could attract a frenzy of investors. The price of TRON soared from 1 cent to 2 yuan in just two months, a full 200 times.

Seeing this number, early buyers are probably already calculating profits. But the data will lie. It has been found that more than 50% of TRON coins are concentrated in one account, while retail investors hold less than 9%. What is the meaning behind this amazing data? The price of TRON coins is completely controlled by a few large investors.

When retail investors flocked in, the traders behind it poured 200 million TRON coins into the exchange every day. In just half a month, they cashed out 12 billion yuan from it. And the biggest dealer in this game is Brother Sun. He commanded remotely from overseas, and achieved the magic of money by buying TRON coins, releasing good news to stimulate price increases, and then selling TRON coins.

This is not a mysterious investment strategy, this is classic “insider trading”. Brother Sun used carefully designed personalities and tactical packaging to plunge countless retail investors into a zero-sum game - only one person can make money, and that is the dealer.

Brother Sun’s Multiple Identity Game: From WTO Ambassador to Virtual Prime Minister

If the cashing out of TRON coins is Brother Sun’s “martial arts”, then his subsequent series of identity changes are his “personality” artistic performances.

In 2022, Brother Sun appeared as a Grenadian citizen and served as the country’s ambassador to the World Trade Organization (WTO). Shortly thereafter, he was appointed acting prime minister by the “president” of the micro-state of Liberland, Witt Jedliczka. This Liberland claims to have 7 square kilometers of “land” and 7 “citizens”, and its status on the international stage is even more ethereal, but Brother Sun’s “entry” move still caused a lot of ripples in the outside world.

Recently, he invested another $30 million in a Trump-led decentralized finance project, becoming the largest investor in the project. From WTO ambassadors, virtual prime ministers, to investors of former US presidents, Sun Ge’s identity is increasing, but the core purpose remains the same - to carefully create a “tall” personality to pave the way for his next step of cutting leeks.

“Sun Ge smiled, life and death are unpredictable” - this sentence is used to describe Brother Sun’s business logic more appropriately. What the leeks see is a successful entrepreneur and a social elite, but what they don’t see is the trap hidden under the gorgeous coat.

The essence of virtual currency: why can Brother Sun cut leeks

Why can a smart person cash out 12 billion from virtual currency? The answer lies in the nature of virtual currencies themselves.

Whether it is Bitcoin or TRON, they only rely on algorithms. Fundamentally, these digital assets are just a “castle in the air”. When asked about his views on Bitcoin, Buffett hit the nail on the head: “This thing is worthless.” "And what is worthless can return to zero at any time.

Similar dramas have been played in history. In 2009, Bitcoin was priced at just $0.0016 per coin, but it soared to $1,700 in just two years, attracting a large influx of investors. However, in just half a year, the price plummeted to $0.01, and countless people went bankrupt. Such drastic price fluctuations are almost impossible to occur in assets with real value such as gold and silver. Things that are nothing, after all, will return to nothingness.

So why is virtual currency still worth so much money? The key lies in another feature of it – it is difficult to trace and collect evidence. When hackers carry out blackmail, they often ask for not cash, but Bitcoin. This shows that virtual currencies provide a means of payment for transactions that do not wish to be regulated. Pornography, gambling, drugs and transnational crime, these businesses that did not want to be exposed to the sun, have found a “safe haven” in virtual currency.

Final advice: Can Brother Sun’s story be replicated?

Some people asked, can Brother Sun’s success be replicated? Theoretically, yes. But the person who can really copy him will definitely not be you. Because the gameplay of this game is not equal from the beginning - the dealer always has absolute information superiority and control.

The final advice is simple: don’t understand, don’t participate. Remember that the nickname of money is “greed”. When you are confused by the $620k banana, the 200x increase, and the sparkling persona, you are getting closer and closer to the condom. And Brother Sun was waiting there, holding a sickle in his hand and smiling at the corner of his mouth.