End of crypto winter?  Remarkable financial results for Justin Sun

TRON, HTX, Poloniex and TUSD form the basis of Justin Sun’s empire. In a recent publication, this Chinese crypto entrepreneur highlighted a 14% increase in revenue of its group compared to the previous quarter. However, at that time, conditions were not even conducive to income growth.

Good performance from Sun’s crypto group

Are you new to the crypto world and don’t know who Justin Sun is? Discover via this article extensive details concerning this entrepreneur of Chinese nationality whose fame often goes beyond the financial scene.

Positive results for the Justin Sun group in the third quarter

Justin Sun said the group’s actual revenues in the third quarter were $202 million, expenses were $104 million and the quarterly profit of $98 million. Guidance for the fourth quarter is revenue of $190 million, expenses of $88 million and profit of $104 million. Justin Sun’s group includes TRON, HTX, Poloniex, TUSD, etc. »

Did you notice the link attached to this post from Wu Blockchain? It actually links to a tweet from Justin Sun who reveled in the positive results of his group of cryptocurrency companies.

Sun’s publication also refers to a presentation of the balance sheet of this same conglomerate for the second quarter. She highlights:

  • actual revenue of $193 million;
  • expenses of $108 million;
  • quarterly profit of $85 million;
  • a 183% increase in profit compared to the first quarter;
  • etc.

Note that at the time, Justin Sun planned to achieve revenues of $200 million for the third quarter. If we refer to the figures put forward for this period, the forecast seems very precise since the difference is only 2 million.

The rise of cryptos

Last January, Dante Disparate, head of the Digital Currency Governance Consortium of the World Economic Forum, spoke about an “ice age” rather than a “crypto winter”. But for Justin Sun, against whom the US SEC has a grudge, those times are over, says Crypto News. And he is not the only one to predict this prosperous period: analysts from Wall Street and Morgan Stanley also share the same opinion.

The recent surprise created by bitcoin (BTC) against a backdrop of enthusiasm for spot ETFs supports this argument. Don’t you think?

We therefore expect a resurgence of the cryptocurrency sector in the fourth quarter and first quarter of 2024. Halving Bitcoin is approaching at high speed: it promises happiness to traders.

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