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

The story is getting none following yesterday’s reports that Tron, which manages 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 Epilogue, but a new development, while Tron and his boss remain closed on the matter.

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

Brief summary: As Cryptoverse learned yesterday and quoted 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 applied for COVID-19 Small business relief the US government. This information was allegedly confirmed on the platform’s Chinese WeChat channel in a post quoting “foreign media” claiming that Tron received CNY 17 million, nearly $ 2.4 million, as a salary protection grant.

Today Graham tweeted a sequel to that story saying “Tron’s China WeChat Account Will Be 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 amounts of money and that he won’t receive the second” in the near future obliged to repay the money received, but the translation does not make it clear whether this $ 2.4 million is the full amount or the first part.

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

This, writes Graham, is a “possible motivation for disclosure of information in China”. This ties in with his earlier testimony of Tron’s alleged motives for posting the news item in China, which states that “many people are misinterpreting this as some kind of implicit endorsement of Tron by the US government, from the standpoint of a totally unethical crook a smart move “. . ”

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

Regardless of how the general public in China may have interpreted this news, the crypto community appears angry and is demanding an explanation. As of yesterday, people have been voicing their confusion as to why Tron, which has recently made acquisitions, or Justin Sun, which is reportedly worth $ 200 million, are even filing that money for smaller companies that have been 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 rest of the reasons for this request, the moral of the act (both the request and the way it was advertised) questions some as misleading) or both.

We asked Tron to comment on this matter yesterday, but we haven’t received a response yet.

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


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

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