Justin Sun Quits TRON to Become Grenada Diplomat
Justin Sun is leaving the TRON Foundation to become an Ambassador for Grenada.
Key Takeaways
- Justin Sun is stepping down from his role as the CEO of the TRON Foundation.
- Sun is becoming a WTO Ambassador for Grenada, but says that he will continue to support TRON.
- TRX declined on the news of Sun's departure.
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Justin Sun is stepping down as the CEO of TRON Foundation after being appointed as an ambassador in Grenada.
Justin Sun to Work With Grenada
Justin Sun is quitting his role at the helm of TRON.
I have accepted the invitation and appointment of the Grenadian Gov. to officially serve as the Ambassador, Permanent Representative of #Grenada to the World Trade Organization in #Geneva. I will be working in full capacity to represent Grenada’s national interests, to the @WTO https://t.co/9Ke37rD7KQ
— H.E. Justin Sun 🇬🇩 (@HEjustinsun) December 17, 2021
The 31-year-old entrepreneur announced the update early Friday. Sun revealed that he had been appointed as an Ambassador of Grenada to the World Trade Organization in Geneva. In a tweet announcing the news, Sun wrote:
“I have accepted the invitation and appointment of the Grenadian Gov. to officially serve as the Ambassador, Permanent Representative of Grenada to the World Trade Organization in Geneva. I will be working in full capacity to represent Grenada’s national interests to the WTO.”
The tweet Sun posted featured a photo originally posted by Grenada WTO, the official account of the Permanent Mission of Grenada to the World Trade Organization. The photo shows Sun alongside Grenada’s Minister of Foreign Affairs, Oliver Joseph.
Despite the career move, Sun confirmed that he would not be turning his back on TRON, but only stepping down from his “active leadership role.” In a separate tweet, he said that he would “still be engaged with the TRON community and push for further advancement of the TRON blockchain.”
Sun rose to prominence in the crypto community in 2017 after he founded TRON Foundation, the Singapore-based non-profit organization that developed the TRON blockchain. However, he’s been embroiled in a number of controversies over his years in the industry. TRON was accused of plagiarizing Ethereum’s whitepaper when it launched, and Sun himself has had a patchy reputation. In September 2020, The Verge published an investigation describing him as the “Hype Man of the Century” alleging that he made threats, attacked employees, and broke laws during his tenure at the TRON Foundation. In recent years, Sun’s notable endeavors have included paying $4.5 million for a charity lunch with Warren Buffett, a hostile takeover of the blockchain-based social network Steem, and building a collection of high-value NFTs.
TRON’s TRX token dipped 7.3% on the news of Sun’s departure, currently trading at $0.08. It currently has a market cap of around $8.2 billion and around $5.41 billion in total value locked within its DeFi ecosystem.
Disclosure: At the time of writing, the author of this piece owned ETH and other cryptocurrencies.
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