Who is Justin Sun, the founder of Tron?

Justin Sun born July 30, 1990 is a Chinese technology entrepreneur, founder of the cryptocurrency platform TRON, and current CEO of Rainberry, Inc. He is the founder and CEO of the mobile social application Peiwo .

Justin Sun holds an MA in East Asian Studies from the University of Pennsylvania and a BA in History from Peking University .

In his youth, Justin’s parents were very concerned about ensuring that their son received a quality education .
Justin graduated from three prestigious universities. He graduated from Peking University, where he earned a degree in history. He then studied humanities at the Chinese University of Hong Kong. At the University of Pennsylvania he obtained a master’s degree in political economy.
On top of that, Justin recently graduated from a very prestigious university for entrepreneurs, Hupan, established by billionaire and head of Alibaba Group , Jack Ma.
It is extremely difficult to get into this university. To become a student, you must own a business that has been in existence for more than 3 years and has at least 30 employees.
In addition, the company must have a turnover of at least 4 million dollars per year!

Career

At 26, Sun was chosen by Jack Ma to study at Hupan University and was the only millennial among the first graduates . Sun became the figurehead of Yazhou Zhoukan in 2011 and Davos Global Youth Leaders in 2014. In 2015, he was named CNTV ‘s Most Outstanding New Entrepreneur and was named in Forbes China 30 Under 30 from 2015 to 2017 .

Sun placed a record $4.5 million bid for a private lunch with Berkshire Hathaway CEO Warren Buffett in June 2019 , before canceling it to everyone’s surprise . Lunch with Buffett finally happened in January 2020 7 .

On March 11, 2021, Sun was the underbidder of the historic $69 million auction at Christie’s New York of Beeple’s non -fungible token collection (NFT) Everydays: the First 5000 Days  .

In October 2021, Sun participated in a $65 million seed round at Animoca  .

In December 2021, Grenada appoints Justin Sun Ambassador to the World Trade Organization to drive local economic growth through digital technologies 10 He is moving to Geneva .

That same month, Sun announced he was the winner of Blue Origin ‘s auction with a $28 million bid to be the first paying passenger to fly on the New Shepard vehicle . He was unable to carry out this mission. However, it has purchased a full flight from New Shepard for the last quarter of 2022 and intends to select five more entrants .

First successful business

Justin’s first successful big business can rightly be considered the Peiwo app , which was created for the Chinese public in 2013.
Peiwo, translated into French as “call me” is a platform for sharing content , streaming lives , to communicate with other users , etc.
This app is very much like a social network, but can analyze 10-second recordings and then connect users into groups (based on their interests).

 

 

Peiwo has more than one million active users every month , and the total number of registered accounts has exceeded 12 million.
Justin Sun is still the head of the board.

His discovery of crypto-currencies

The story of Justin’s acquaintance with cryptocurrencies begins in 2012 when one  bitcoin cost ten dollars.
At the time, the entrepreneur had already started buying his first bitcoins and had become one of the first investors in this new kind of currency .

See also  Everything you need to know about the Justin Sun affair which is shaking up the Tron (TRX) ecosystem!

A little later in 2013, he will receive a high position at Ripple Labs, well known to all for their controversial “cryptocurrency” Ripple. Justin acted as a representative and consultant for Ripple Labs in China until 2016. His work with the company turned out to be quite successful and Ripple soon established partnerships with major Chinese investment funds.

 

 

After that, in 2017, Justin Sun created his own blockchain platform, TRON , designed to realize the idea of ​​a decentralized Internet .

TRON and BitTorrent – ​​Justin’s current projects

TRON has been making a lot of buzz and garnering many from the crypto community.
For example, Vitalik Buterin , founder of Ethereum , the second-highest capitalization cryptocurrency , called the project’s whitepaper a simple plagiarism .

Despite this, TRON was for a very long time in the top 10 cryptocurrencies . He is in 11th place at the time of writing this article.
Justin Sun personally participates in the promotion of his product, he regularly writes development reports, broadcasts live to answer questions, speaks at various conferences, etc.

Justin’s work with partners and integrating cryptocurrency into other projects is an important factor in TRON’s success.
For example, in early 2018, the TRON cryptocurrency was integrated into the Peiwo app, allowing you to pay for additional features, or transfer it to other users.

After a while, Justin Sun buys BitTorrent , spending over $100 million . However, soon after, he will successfully hold an ICO , raising over $7 million within minutes. Good publicity has done its thing and the price of the BTT token has already increased by about 8 times compared to the price when the tokens were sold.

Talking about his ability to do successful partnerships, it is worth mentioning here that Justin Sun is a friend and partner of Chanpeng Zhao, founder of one of the biggest cryptocurrency exchanges Binance , where by the way has took place the IEO of BitTorrent.

 

 

Justin is currently fully focused on the development of the Tron project, whose objectives are set until 2027 in the roadmap . At present, several offices have already opened in different cities. In the near future, he plans to expand the project worldwide. It also plans to build infrastructure, build community, and conduct publicity campaigns to attract talented developers to the TRON platform.

Justin’s personal take on the cryptocurrency industry

As for his personal view of a phenomenon such as cryptocurrency, Justin is very optimistic. Like many enthusiasts, he is convinced that the importance of traditional banks will diminish considerably. Speaking at a Forbes event in 2015, when he first appeared on the list of ” China’s Top 30 Businessmen Under 30 “, Justin made the remarks.

In my opinion, the heart of reliable finances is their value. All parts of the system are like water droplets. If you don’t combine them, the water can’t flow out, it can’t be used, and a drop’s worth will quickly evaporate. However, if you have a complex mechanism that can reflect real value and get it into the hands of those who need it, that mechanism will be of great value.

Justin Sun probably wanted to emphasize the inaccessibility of the financial system to half of humanity . Whereas cryptocurrency is the most transparent and reliable financial system available to everyone with an internet connection and a smartphone.

Contradictions

The personality of Justin Sun, as well as his TRON project, very often cause various scandals. Thus, he is accused of having sold 300 million dollars in TRON tokens while they were still part of the Ethereum blockchain . Similarly, it is said that Justin Sun has plagiarized the white papers of other projects and, very often, we hear that TRON is a scam !

See also  Everything you need to know about the Justin Sun affair which is shaking up the Tron (TRX) ecosystem!

For example, in early 2018 Joy Stream Director Bedeho Mender asked Justin Sun on Tweeter “why is TRON white paper being copied from projects like IPFS and Filecoin?!”

After this message was retweeted by Charlie Lee, founder of Litecoin , many media took up the subject.
Justin explained the coincidences in the white papers with an incorrect translation and suggested reading it in the original (in Chinese).

Everything you need to know about the Justin Sun affair which is shaking up the Tron (TRX) ecosystem!

After a first article published in September 2020 on the scandalous activities of the boss of TRON. The Verge returns to the charge by putting on the table new elements. Back to this case which is shaking the ecosystem of Tron (TRX).

Justin Sun is once again in the sights of editor Christopher Harland-Dunaway. New information that the columnist seems to have unearthed from reliable sources is making headlines on the web. The situation heats up and Justin breaks the silence by making clarifications while pointing out that he could take legal action.

Tron ICO Escapes Chinese Government Control

We all remember the Tron ICO in 2017 and the Chinese decision to stop these kinds of activities under the guise of limiting fraud cases because of crypto projects which left behind many victims of scams. However, that of Tron was able to be done without any problem because it had indeed started before the news broke.

If we take the allegations supported in the article as true, Justin would have taken the lead in playing his connections. Indeed, the state’s decision would have been publicized and this allowed him to continue his ICO. But he had to flee afterwards to escape government reprisals.

In its entirety, everything would have been made by The Verge tells us Justin Sun in his Tweet in response. These would be unfounded accusations.

Poloniex case: The exchange with dubious practices

When Poloniex was in financial trouble, Justin invested in the exchange. He for a while denied that he was one of the buyers before finally admitting it. Everything suggests that the KYC process does not meet the required standard.

That said, without forgetting that he moved him from Boston to settle in the Seychelles Islands. This gives him a double advantage. The regulations are much more flexible and the legal proceedings should only involve a Seychellois court, but Mr Sun counterattacks.

[… ] Additionally, we have always strived to work with regulators and have invested in state-of-the-art KYC facilities in line with industry standards.

In fact, Poloniex is not registered in the Seychelles. The exchange does not operate in the United States nor does it serve US customers.

Additionally, Mr Sun is believed to have hijacked around 300 Bitcoins from deactivated Tether wallets for his personal use during ‘ Operation Couch Cushions ”. The aforementioned operation consists of finding the BTC traps and transferred to a first anonymous wallet and then to another wallet of the company to avoid any retracement.

Again Justin denies in these words:

“@Poloniex has always enjoyed an excellent reputation since its origin as a SAFU exchange. We have maintained the highest standards of crypto asset protection for our clients with a proven track record of no major security breaches in operation over the past 8 years.”

BitTorrent Deal: Everything For A Rise in TRX

Insider trading is at the heart of this case. After Justin acquired BitTorrent in 2018, a team was set up for market making. It was necessary at all costs that the price of TRX tokens does not escape Justin’s control.

See also  Everything you need to know about the Justin Sun affair which is shaking up the Tron (TRX) ecosystem!

Before the disclosure of some news that could affect the price of Tron, Sun used to contact a few investors so that they could buy low and then liquidate their position and profit from it.

Fearing being in the crosshairs of justice in the United States, Justine hatches a plan to circumvent future sanctions from the SEC. A former regulator has been approached to ensure crypto compliance.

But as it was rather necessary to deflect the potential sanctions by illegal maneuvers rather than to comply with the SEC, he resigned thereafter. The tweets aim to shine a light on his innocence and gloss over accusations related to the BitTorrent affair in particular

Conclusion

Although ambiguous, Justin Sun is a talented entrepreneur . The opinion of the cryptocurrency community towards it is mostly negative. In the media, headlines often appear featuring either Justin Sun himself or his blockchain platform, TRON.

True, it cannot be said that all the accusations against him are baseless. One of the accusations supported by facts is the sale of tokens for the amount of 300 million dollars . After that, the TRX price dropped by 30%.

Internet users have found several pieces of evidence linking Justin to this dump. First, the address from which the tokens were sold on the market is linked to a Crypto Kitties smart contract and registered under the nickname Justinpets. That is to say that this address was used in the game and that its nickname coincides with Justin’s first name.

 

crypto kitties

 

He denied this accusation and said that an economist of the same name, Justin, interested in collecting cryptocurrencies, deliberately sold tokens on a trading account in order to increase liquidity and close positions.

Everything is fine, don’t worry, the tokens were sold with good purposes, and as for the chats, when I registered, I used my real name Yuchen, so it’s not me.

But the “detectives” continued the investigation, finding at the end a video in which Justin Sun presents the Chinese version of the Crypto Kitties and where his nickname ” Justinsun ” is visible. Previously, he claimed not to have used this name during registrations.

Thus, it is very likely that it was Justin who sold a considerable amount of tokens and subsequently dropped the price of TRX by 30%.

On the other hand, accusations of white paper plagiarism are more questionable. A wealthy businessman listed twice on the Forbes rankings, having completed several prestigious universities, including Jack Ma’s Hapun, is copying other projects in the hope that no one will notice…
There are could have been a bad translation and insufficient control over the employees, difficult to be sure.

What do you think of Justin Sun’s personality?
Who is he, a cunning man who only thinks about money, or an ambitious businessman who advances the cryptocurrency industry?
Share your opinion in the comments!

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SAKHRI Mohamed
SAKHRI Mohamed

The blog of a computer enthusiast who shares news, tutorials, tips, online tools and software for Windows, macOS, Linux, Web designer and Video games.

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