The Tron / Justin sun scandal heats up as Cryptoverse searches for explanations

Justin Sun. Source: a video screenshot, Youtube, Tron

Following yesterday’s reports that Tron, which maintains the Tron (TRX) blockchain under the direction of CEO and Founder Justin Sun, has apparently received more than $ 2 million from the U.S. Pandemic Relief Fund, the story does not get an epilogue, but rather a new development Tron and his boss are always up to date on this matter.

Brief Review: As Cryptoverse learned yesterday, and as stated in a tweet from Mathew Graham, CEO of blockchain investment firm Sino Global Capital, who quoted Chinese media, Justin Sun allegedly claimed in China that Tron had successfully campaigned for COVID-19 small advertised business relief from the United States government. That information was allegedly confirmed on the platform’s Chinese WeChat channel in a post quoting “foreign media” alleging that Tron received CNY 17 million, nearly $ 2.4 million, as a salary protection grant .

Today, Graham tweeted a sequel to that story, stating “Tron’s China WeChat account doubled” and asked, “How many Tron tokens are American taxpayers getting?[?]”The account has a new article that also claims that the platform received the money. That article states that Tron received the first of two stacks of money and that he will receive the second” in the near future However, translation does not make it clear whether this $ 2.4 million is the full amount or the first part of it.

The article also cites “industry insiders” who “understand the meaning of [Sun’s] Access to that money is far greater than the real importance of granting workers’ compensation payments, which proves it [Sun] and his team are legal in the US. Compliance also proves the value of [Sun’s] Blockchain companies and teams. “

This, writes Graham, is a “possible motivation for disclosing information in China”. This relates to his earlier testimony of Tron’s alleged motives for posting the news in China, and states that “many people will misunderstand this as some kind of implicit endorsement of Tron by the United States government. From the standpoint of a totally unethical grifter A smart move from a point of view. ” . ”

It could be for less demanding players

– Matthew Graham (@mattysino) May 7, 2020

As reported in July 2019, Sun reportedly had problems in China due to his lunch with one of the richest men in the world, a prominent investor and Bitcoin skeptic, Warren Buffett. “Several Tron executives were briefly arrested by the Chinese authorities and then released as soon as Sun agreed to postpone lunch,” Bloomberg reported at the time. Also, Sun posted a long apology post on his Weibo account and later deleted the post. Lunch finally took place in February of this year.

Regardless of how the general public in China interpreted this news, the crypto community seems angry and is demanding an explanation. As of yesterday, people have been voicing their confusion over why Tron, who has recently made acquisitions, or Justin Sun, who is allegedly worth $ 200 million, are requesting that money even for smaller businesses hit hard by the pandemic.

Others claim that an Ethereum company founded by an Ethereum co-founder failed to get this relief, while the rest of the reasons for this request, the moral of the act (both the request and the way it was advertised, questions) questions some as misleading) or both.

But it is possible. Lots of gaps, bad oversight.

– Matthew Graham (@mattysino) May 6, 2020

We asked Tron for a comment yesterday, but we haven’t received a response yet.

After all, there is no message in Cryptoverse without a joke:

I am waiting for the announcement “Partnership with the US government” or “Tron has been funded by the US government” …

– Kmpec (@ K_mpec80) May 6, 2020

__ __

At Trons partnership with the SBA office of the inspector generalhttps: //

– Matthew Graham (@mattysino) May 7, 2020

At pixel time (15:18 UTC), TRX, measured by market capitalization in 17th place, trades at c. USD 0.016 and is unchanged in one day. The price is up almost 3% in a week and 17% in a month, reducing the annual loss to 36%.

Comments are closed.