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    TRX Price Falls Amid News Of Sun's Departure From Tron CEO

    Justin Sun Leaves Tron

    On December 17, it became known that the founder of the Tron project, Chinese billionaire Justin Sun, was appointed the representative of Grenada in the World Trade Organization and intends to withdraw from active participation in the project. Amid the news, TRX fell 1.4% in an hour and 5% in a day.

    However, Sun clarified that he will not leave the Tron Foundation, but will stop performing leadership functions. At the same time, he intends to continue to interact with the community, contributing to the further development of the blockchain and the promotion of the brand.

    What caused this step? Inspired by the example of El Salvador, which recently legalized Bitcoin as a means of payment, Sun considers the legitimization of cryptocurrencies in Latin America as an urgent task. Sun is convinced that you cannot focus solely on the United States.

    He noted that the American market cannot "decide for everyone", since there are almost 8 billion people in the world, and pointed to the slow progress of crypto legitimation and the conservative approaches of regulators in this country. Sun is very optimistic about the Caribbean, in particular the Bahamas, Grenada and Panama.

    He especially appreciates the prospects for Grenada. This country is adjacent to the United States, English is recognized there as the official language, one of the best universities in the region is located in Grenada.

    The entrepreneur is convinced that if blockchain technology and cryptocurrencies "take root" on the soil of Grenada, this success will affect the situation in China, where mining and cryptocurrencies are prohibited, and in the United States, where progress is still irrelevant. 

    Sun wrote on Twitter that the next milestone for the crypto industry is to achieve harmonious relations with international regulators, and the recognition of blockchain technology by sovereign states will create a global decentralized financial infrastructure. The billionaire noted that he intends to work with the leadership of the WTO to promote the blockchain and create a digital economy on a global scale.

    Sun's decision is expected to help decentralize the Tron network, which will be abandoned by three supernodes associated with the entrepreneur. In the future, 27 selected supernodes will be in charge of the network. Earlier, the Tron Foundation and BitTorrent stopped serving as supernodes. The Tron Foundation will be disbanded next year.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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