Justin Sun is about to go global.
A new job opportunity has arisen for the cryptocurrency entrepreneur and Tron founder. Tron founder Justin Sun will take a new career as a diplomat for Grenada, a Caribbean nation. Sun is one of the most prominent people in the digital-asset world.
In the meantime, Sun, who said he has lived on the 135-square-mile island since 2019, is phasing out participation in crypto-related projects. There are hundreds of gambling and gaming apps on the Tron blockchain, which is a top network for controversial stablecoin Tether.
His first notoriety came from his delayed meeting with billionaire investor Warren Buffett in 2020, as well as a failed Tesla giveaway a few months earlier.His non-fungible token, sold for a record $69 million at an auction, was outbid at the last minute, and he was facing a revolt at a crypto social network company he acquired.
“Our crypto industry has got into the stage, we really need sovereign states and regulators and international organizations to recognize the potential and the benefits of the blockchain technology,” Sun said in an interview with Bloomberg News.
“That’s why I think I will focus lots of my energy, to try and push blockchain technology and cryptocurrency – the importance of all of this in developing countries and developed states as well. I will also try to promote new technology development in Grenada.”
“That’s why I think I will focus lots of my energy, to try and push blockchain technology and cryptocurrency – the importance of all of this in developing countries and developed states as well. I will also try to promote new technology development in Grenada.”
TRON: Justin Sun’s Wild Ride To The Top
Previously, Sun founded Peiwo, a popular Chinese app similar to Snapchat with millions of users. Then, in 2017, he launched Tron using a large portion of Ethereum’s open-source computer code.
After China cracked down on ICOs, Tron’s $70 million initial coin offering was refunded to Chinese participants. In the Southern District of New York, the Tron Foundation and Sun will face a class-action suit over the ICO. The Tron Foundation, which was formed to further the development of blockchain, has already phased out Sun’s leadership role. Sun said he is not leaving the effort because of troubles with regulators.The network is home to more than 1,300 active distributed applications, according to DappRadar. The foundation will close in July after using up nearly all of its funds, Sun revealed.
Furthermore, he has withdrawn three Tron nodes he controls directly or through his companies. Tron transactions are verified by 27 such super representatives. Tron’s community will run it, Sun said. Poloniex, where Sun is an investor, is a Tron super representative, according to crypto data tracker Tronscan.
BitTorrent’s BTT token is valued at about $2.7 billion. According to CoinMarketCap.com, Tron has a market value of about $8.8 billion. Sun owns about 4% of Tron’s TRX tokens.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
