Justin Sun is a Grenadian-born Chinese cryptocurrency entrepreneur and business magnate.
He is the founder of TRON, which is dedicated to building the infrastructure
He has served as a Permanent Representative of Grenada to the World Trade Organization in Geneva and also as an advisor to HTX, a Seychelles-based cryptocurrency exchange.
Justin Sun is currently serving as the CEO of Rainberry Inc. dba BitTorrent starting from June 2018.
He has founded several business ventures such as Peiwo, a well-known live chat app based in China with over 11 million registered users in addition to TRON.
Early Life
Justin Sun was born in the year 1990. He took a Bachelor of Arts degree from Perking University and a Master of Arts degree in East Asian studies from the University of Pennsylvania.
It was while studying at the University of Pennsylvania that he took up an interest in cryptocurrencies. He later went on to study at Jack Ma’s Zhejiang Hupan Entrepreneurship Research Center.
Business career
It was in late 2013, that Sun joined Ripple Labs as its chief representative and adviser. Later the following year he founded Peiwo, a Chinese voice-based social networking app that matched people of similar interests through a short recorded voice note.
In 2014 he became a Davos Global Sharper, which recognized young people with an interest in solution-building and making changes in the marketplace.
He was listed as the most notable new entrepreneur by CNTV in 2015, and from 2015 to 2017, he was a part of the Forbes 30 Under 30 Asia list.
Justin Sun Founded TRON Foundation Ltd. in 2017, which developed ‘TRON’, a decentralized, open-source, blockchain-based OS with a cryptocurrency native to the system known as Tronix(TRX).
The TRON coin currently is worth about $0.117, down about 0.71% from the last day’s trade.
Diplomatic Relations
Sun was appointed as the Ambassador and Permanent Representative of Graenade to the World Trade Organization in 2021.
For these newly handed-over responsibilities, he decided to withdraw a bit from his crypto-related projects and focus more on his diplomatic role at the WTO in Geneva.
Sun used his role to later advocate for bringing blockchain technology and adapting cryptocurrencies to countries like Grenada to promote technological development in Grenada.
Sun has said once that the Caribbean has “become a very good place for entrepreneurship” because of its closer proximity to the United States and its lax regulation of cryptocurrency.
It was in December 2021, that Justin Sun retired as the CEO of TRON and became fully engaged in his position as a Permanent Representative of Grenada to the World Trade Organization.
Controversies and Civil Cases
Justin Sun was sued by the U.S. Securities and Exchange Commission (SEC) in 2023 for selling unregistered securities related to the sale and promotion of TRON and BitTorrent(BTT) tokens.
It was alleged that Sun had engaged in market manipulation in order to raise the price of these tokens.
There is still no evidence to support these claims.
Recent reappearance into the spotlight
Justin Sun recently raised a lot of eyebrows with his staggering crypto transfer worth 21 million dollars into the account of Binance, the world’s largest cryptocurrency exchange.
Sun’s 21 million dollar payment was divided among 4 assets, which included the $9.3 million purchase of 93,979 AAVE tokens and 3,800 MKR tokens.
The trade has raised many suspicions as whenever such trades of large quantities happen it is often an attempt to liquidate their holdings and to drive down the prices by increasing the supply of the tokens.
If the sale goes through it is reported that he could earn almost 7 million dollars as profit from the transactions while significantly impacting the stability of a few of the already recovering tokens.
His popularity in the market has turned the eyes of a lot of the inventors into his recent dealings with some looking at it with suspicion and scrutiny and with others trying to spot an investment opportunity amongst all the commotion.
Final Thoughts
From the actions of the crypto-pioneer and investor himself, Justin Sun is someone who has never backed down from following his interest, whether it be in the world of cryptocurrency or his personal life.
He has always gone all in with the paths that he chose to follow. Most of his methods have been rash and highly reckless.
Yet, his ability to become successful in all his endeavors is praiseworthy and one that every businessman should try to emulate
