"Blockchain Ultraman" Takes On "Financial Godzilla": Justin Sun as Web3’s Night Watchman

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In the volatile world of cryptocurrency, few figures embody drama, controversy, and decisive action quite like Justin Sun. On April 2, 2025, he once again made global headlines—not for a flashy tweet or celebrity stunt, but for stepping into the breach when a major stablecoin teetered on the edge of collapse.

According to CoinDesk, TrueUSD (TUSD) faced a nearly $456 million shortfall in its reserve backing—putting its dollar peg at serious risk. At that critical moment, Justin Sun stepped in with emergency liquidity, averting what could have been a systemic shock to the stablecoin ecosystem.

👉 Discover how one man’s intervention saved a cornerstone of crypto stability.

The Ultraman Moment: Standing Against Financial Chaos

Framing himself as a defender rather than a disruptor, Sun told Hong Kong’s Sing Tao Daily:

“Godzilla destroyed the city. I am Ultraman—I struck Godzilla down with one palm. I am here to save everyone.”

This wasn’t just theatrical flair. Sun directly accused FDT of financial fraud, calling for immediate investigation by Hong Kong regulators and law enforcement. He emphasized that these were public funds at stake—money belonging to ordinary investors—and that protecting them was both a moral duty and essential to preserving Hong Kong’s status as a global financial hub.

“I was shocked by the scale of this fraud,” Sun said. “But more than shock came responsibility. Those who commit fraud must be held accountable under the law.”

His intervention wasn’t merely about rescuing a failing asset—it was a statement: in the absence of robust oversight, responsible actors must rise to protect the integrity of Web3.

Core Keywords:

Ethereum’s Faithful Defender: Two Battles That Defined a Belief

Sun’s relationship with Ethereum is less about rivalry and more about resilience—a testament to his long-term belief in decentralized networks.

The 2021 Crash: A $300 Million Stand

On May 19, 2021, the crypto market imploded. Bitcoin plunged below $31,000; Ethereum dropped under $2,000. At that moment, Sun’s 606,000 ETH collateral on Liquity Protocol was seconds away from liquidation.

With only two minutes to act, he deployed $300 million to repay debt and avoid forced sell-offs—then doubled down, investing another $280 million to buy 54,000 ETH and over 4,100 BTC at rock-bottom prices.

“My funds are safe,” he wrote on Weibo. “But for a split second, I felt the bullet graze my skull. I never expected the price spike to hit so hard.”

That day wasn’t just personal survival—it was market stabilization. By preventing mass liquidations, Sun helped stop a cascading collapse across DeFi protocols.

2024: Reinventing the Ethereum Vision

When Ethereum lagged in the 2024 bull run, critics mocked Sun’s massive holdings as losses. But instead of retreating, he proposed a bold vision: what if he led the Ethereum Foundation?

His plan?

While hypothetical, the proposal revealed Sun’s deeper philosophy: true value comes not from speculation, but from structural innovation and long-term stewardship.

👉 See how visionary strategies can reshape digital asset ecosystems.

From HTX Turnaround to Global Recognition

When Sun became global advisor of HTX in October 2022, many called it a disaster waiting to happen.

FTX had just collapsed. Confidence in centralized exchanges was shattered. HTX—once a top-tier platform—was hemorrhaging users and liquidity under regulatory strain.

Skeptics laughed: “Sun just grabbed a hot potato.”

But two years later, HTX has rebounded dramatically:

HTX didn’t just survive—it evolved. Under Sun’s guidance, it launched new compliance frameworks, enhanced security infrastructure, and restructured tokenomics through the HT-HTX conversion initiative.

This wasn’t luck. It was execution.

FTX Fallout: Lighting a Beacon in the Dark

The FTX implosion in November 2022 sent shockwaves through Web3. With Coindesk revealing Alameda Research’s financial troubles and suspected misuse of customer funds, FTX faced $6 billion in withdrawal demands within 72 hours.

BTC crashed below $16,000.

Amid the panic, Sun announced he would collaborate with FTX to find a solution. More importantly, he guaranteed 1:1 redemption for all TRON-based tokens (TRX, BTT, JST, SUN) and HTX’s native token.

The next day? Trading and withdrawals resumed for those assets.

Though Sun later confirmed he was prepared to offer billions in aid, due diligence revealed FTX’s insolvency too deep to reverse. Still, his intervention gave users time to exit and preserved trust in key digital assets.

“In crises,” Sun said in a Bloomberg interview, “someone has to step forward—even if they can’t fix everything.”

Curve Crisis: Saving DeFi with $28.8 Million

In 2023, Curve Finance suffered a major exploit. CRV token prices nosedived, threatening Michael Egorov’s $100 million loan position—and potentially triggering a domino effect across DeFi lending markets.

Enter Sun.

Alongside industry figures like Du Jun, DCFGod, and Andrew Kang, he purchased 72 million CRV tokens at $0.40 each**, injecting **$28.8 million to stabilize Egorov’s collateral.

JPMorgan analysts noted:

“This coordinated effort prevented broader contagion in decentralized finance.”

Even more strategically, Sun leveraged the moment to launch a stUSDT pool on TRON, attracting yield seekers and pushing TRON’s Total Value Locked (TVL) upward—even as competitors bled capital.

Critics claimed self-interest—but in a space where silence is common during crises, action speaks louder than motive.

The Night Watchman Ethos: Courage in Controversy

Justin Sun is no saint. He’s polarizing—accused of self-promotion, criticized for ambition. Every rescue seems to benefit his ecosystem.

Yet strip away the noise, and a pattern emerges: when others retreat, he advances.

Whether defending ETH positions amid bear markets, reviving HTX from near-obsolescence, or injecting capital into failing protocols—Sun acts when hesitation could mean collapse.

He partnered with Trump Family’s World Liberty Financial (WLFI), integrating TRX into their reserve assets—not for hype, but for long-term adoption.

“I’m not here to make quick money,” Sun once said. “I want to build something for the future.”

That vision carries risk. It demands grit. And in an industry where trust erodes fast, it may be exactly what Web3 needs.

Frequently Asked Questions (FAQ)

Q: Why did Justin Sun intervene in the TUSD crisis?
A: To prevent systemic risk in the stablecoin market and protect investor confidence. He viewed the reserve shortfall as a threat to Web3’s credibility and acted as a stabilizing force.

Q: Did Sun profit from his Curve rescue?
A: While CRV rebounded after the purchase—potentially generating gains—the primary goal was systemic stability. The move also strengthened TRON’s DeFi position via stUSDT integration.

Q: Is Justin Sun trying to control Ethereum?
A: No. His proposal to lead the Ethereum Foundation was conceptual—a call for improved governance and economic design—not a bid for control.

Q: How did HTX recover under Sun’s advisory?
A: Through strategic restructuring, enhanced security, improved compliance, and community re-engagement—proving that strong leadership can revive even struggling platforms.

Q: Are his actions altruistic or self-serving?
A: Likely both. While each intervention supports broader Web3 health, they also strengthen Sun’s ecosystem. But in times of crisis, having leaders willing to act—even with mixed motives—is better than having none.

Q: What defines a “Web3守夜人” (night watchman)?
A: A steward who protects the ecosystem during downturns—providing liquidity, defending protocols, and advocating for transparency when others stay silent.

👉 Explore how leadership shapes the future of decentralized finance today.