base-builds

Regulatory Pressure: The increasing regulatory pressure on crypto's main players, particularly in the United States, has created a climate of uncertainty. This environment makes investors wary of any involvement with entities that might be under scrutiny or at risk of being targeted by regulatory actions.
Recent Hacks: The recent hacks on Sun-linked projects, including Poloniex losing $126M and now HECO and HTX losing $99M, have significantly eroded trust in his ability to secure assets. These incidents suggest a pattern of vulnerability that could be exploited by hackers.
Reputation Impact: The repeated "rekt" incidents (a term used to describe significant losses in the crypto space) have damaged Justin Sun's reputation as a reliable figure in the industry. This reputation damage can lead to a loss of investor confidence and market trust.
Market Sentiment: The overall market sentiment towards Sun's involvement in any project has become increasingly negative due to these repeated security breaches.