Justin Sun, the founder of the Tron blockchain, has taken a page from the playbook of former FTX founder Sam Bankman-Fried, directly addressing critics of his newly launched Sun (SUN) meme coin. In a recent post on X (formerly Twitter), Sun expressed his frustration with those doubting the value of SUN, challenging them to sell their holdings.
“For the haters and those who deliberately spread rumors against us, I’ll buy as much SUN as you have, right now, at $0.03. Sell me all you want. Then go f–k off,” Sun declared. This provocative statement mirrors a similar one made by Bankman-Fried in 2021, where he challenged skeptics of Solana (SOL) by offering to buy their holdings.
The SUN token serves as the utility token for Sun Pump, the first meme coin launching platform on the Tron network. Sun Pump has recently surpassed Solana’s Pump.fun in daily active users and revenue, despite the typically low liquidity seen in the crypto markets during the summer months. Notably, SUN has seen significant price gains, rising over 240% in August alone.
While Sun’s bold move echoes Bankman-Fried’s past actions, the context is vastly different. Bankman-Fried’s statement came before FTX’s infamous collapse, while Sun’s challenge comes amidst a more cautious cryptocurrency market. Nonetheless, this event highlights the ongoing influence of major figures like Sun and the lasting impact of past events, like the FTX collapse, on the cryptocurrency landscape.
As the cryptocurrency market continues to navigate through volatility and speculation, discussions on the future of digital assets, including meme coins, are expected to dominate conversations at Benzinga’s Future of Digital Assets event on November 19th.
