TRON（TRX）文件将其ERC20令牌列为美国证券交易委员会（SEC）的ETF

在一个通常由波动和有远见的行业定义的行业中，贾斯汀·孙再次发现自己是关注的中心。

In the dynamic landscape of cryptocurrency, where projects rise and fall with the tides of a volatile market, few figures have commanded attention like Justin Sun, the founder of TRON. While some projects have capitalized on meme coin hype or achieved rapid wealth through regulatory arbitrage, and numerous projects have evaded SEC oversight via ‘indirect listings,’ Sun has steadfastly upheld the principles of ‘inheritance, perseverance, and building’ for over a decade, firmly believing that ‘market longevity depends on regulatory compliance and industry faith.’

在加密货币的动态景观中，项目随着动荡的市场的潮流而下降，很少有数字像Tron的创始人贾斯汀·孙一样引起人们的注意。尽管某些项目已通过监管套利来利用模因硬币炒作或实现了快速的财富，并且许多项目通过“间接列表”逃避了SEC的监督，但Sun坚定地坚持了“继承，毅力和建立”的原则，凭借了十多年来，坚信该市场的寿命依赖于监管机构的依赖性和行业信仰。

This conviction has cemented TRON’s leading position as the ‘on-chain dollar’ authority—its network’s USDT issuance now commands over 30% of the stablecoin market share, a testament to the network’s integration within the broader crypto ecosystem.

这一信念巩固了特隆作为“链美元”权威的领先地位 - 它的网络的USDT发行现在指挥了Stablecoin市场份额的30％以上，这证明了该网络在更广泛的加密生态系统中的集成。

But TRON is only one part of a much larger playbook.

但是Tron只是一本更大的剧本的一部分。

Behind the scenes, Sun has been assembling a triad of infrastructure, liquidity, and stability — all rooted in a commitment to compliance: TRON , the HTX exchange, and the USDD stablecoin — a three-pronged strategy designed to create a self-sustaining Web3 ecosystem.

在幕后，Sun一直在组装基础架构，流动性和稳定性的三合会 - 所有这些都植根于对合规性的承诺：TRON，HTX Exchange和USDD StableCoin，这是一种三方面的策略，旨在创建自我维持的Web3 EcoSystem。

HTX Exchange: The Engine Driving Ecosystem Growth

HTX交换：发动机驱动生态系统增长

TRON may be the foundational layer, but HTX is the gateway.

Tron可能是基础层，但HTX是网关。

As the primary user onboarding platform in Sun’s ecosystem, HTX serves as both traffic hub and liquidity driver. And despite Q1 2025 being a down period for the market, HTX defied gravity.

作为Sun生态系统中的主要用户登机平台，HTX既是交通中心和流动性驱动程序。尽管第1季度2025年是市场的缩短时期，但HTX还是违反了重力。

According to CoinGecko’s Q1 2025 Crypto Industry Report, HTX was the only top-10 exchange to register spot trading growth. While the total crypto market cap fell 18.6%, HTX saw a 11.4% quarter-over-quarter increase in spot volume — outperforming peers who faced declines ranging from 1.8% to 34.0%.

根据Coingecko的第1季度2025 Crypto行业报告，HTX是唯一注册现货交易增长的前十名交易所。尽管加密货币市值下降了18.6％，但HTX的现货量增加了11.4％的四分之一季度 - 表现优于面临的同行，他们面临的范围从1.8％到34.0％。

Beyond trading, HTX’s product suite — derivatives, earn, staking — has seen rapid enhancements. By optimizing fees, expanding yield options, and diversifying offerings, the platform has significantly improved user retention.

除了交易之外，HTX的产品套件（衍生品，赚钱，积分）已经快速增强。通过优化费用，扩大收益率选择和多样化的产品，该平台可显着改善用户的保留率。

Security and compliance are also front and center. Recent collaborations with Fireblocks and other institutional-grade infrastructure providers further reinforce HTX’s commitment to safe, compliant trading.

安全性和合规性也是前面和中心。最近与Fireblocks和其他机构基础设施提供商的合作进一步加强了HTX对安全，合规性交易的承诺。

Perhaps most impressively, HTX has become the launchpad for Sunpump, TRON’s Meme ecosystem. Through tightly integrated token launches, staking rewards, and airdrops, HTX now enables a full go-to-market funnel for emerging Web3 projects, converting curiosity into actual user participation.

也许最令人印象深刻的是，HTX已成为Tron Meme生态系统Sunpump的发射台。通过紧密集成的令牌启动，积分奖励和Airdrops，HTX现在可以为新兴的Web3项目提供完整的上市漏斗，从而将好奇心转换为实际用户参与。

This kind of resilience in a bear market isn’t just about business — it’s about ecosystem durability.

在熊市中，这种韧性不仅仅是关于生态系统耐用性。

USDD: The Decentralized Dollar with Global Ambitions

USDD：具有全球野心的分散美元

No ecosystem is complete without a stablecoin, and Sun has made his move here as well.

没有稳定的人，没有任何生态系统是完整的，太阳也在这里搬到这里。

USDD is a decentralized stablecoin project on the TRON blockchain. Officially launched on May 5, 2022, it was upgraded to USDD 2.0 on January 25th this year. USDD 2.0 relies on over-collateralization, liquidation auctions, risk management modules, PSM (Peg Stability Module), and decentralized governance to maintain a 1:1 USD peg. Furthermore, USDD possesses stability and multiple security measures.

USDD是TRON区块链上的一个分散的Stablecoin项目。该公司于2022年5月5日正式启动，于今年1月25日升级为USDD 2.0。 USDD 2.0依赖于过度的物质化，清算拍卖，风险管理模块，PSM（PEG稳定模块）和分散的治理来维持1：1 USD PEG。此外，USDD具有稳定性和多种安全措施。

As of April 21, USDD 2.0 has surpassed 350 million in circulation, reflecting growing global adoption. This widespread user adoption indicates USDD’s steadily growing prominence within the DeFi community.

截至4月21日，USDD 2.0的流通量超过了3.5亿，反映了全球采用的日益增长。这种广泛的用户采用表明USDD在Defi社区中的稳步增长。

USDD is more than just a token; it’s Sun’s answer to financial sovereignty — a decentralized alternative to traditional payments and cross-border asset fl ows.

USDD不仅仅是一个令牌；这是对财务主权的答案，这是传统付款和跨境资产的分散替代方案。

Breaking the Web3 Trilemma?

打破Web3三元素？

Justin Sun has long been called the “engine of contrarian growth.” Ever since gracing the cover of Forbes, he’s positioned himself as someone seeking to solve the impossible trinity of crypto: regulatory compliance, technical decentralization, and mass adoption.

贾斯汀·孙（Justin Sun）长期以来一直被称为“逆势增长引擎”。自从掩盖福布斯的掩护以来，他就将自己定位为寻求解决不可能的加密三位一体的人：监管合规，技术权力下放和大规模收养。

With the TRX ETF filing, HTX’s strength in crypto-native liquidity, and USDD anchoring real-world utility, he may finally be close.

随着TRX ETF提交，HTX在加密本地流动性方面的实力以及USDD锚定现实世界实用程序，他最终可能会很接近。

The TRX ETF filing isn’t just paperwork. It’s a signal that TRON, and by extension Sun’s broader empire, is ready to bridge Web3 with Wall Street.

TRX ETF申请不仅仅是文书工作。这是特隆（Tron）和扩展太阳（Sun）更广泛的帝国的信号，准备与华尔街（Wall Street）桥接Web3。

If this bet pays off, Sun’s oft-repeated vision — “Achieve financial freedom for 8 billion people on Earth,” — may evolve from slogan to strategy, and eventually, to reality.

如果这是有回报的，那么Sun经常重复的愿景“实现地球上80亿人的财务自由”，可能会从口号到战略，最终发展到现实。