HomeCryptoAltcoinCoronavirus: Did TRON receive funds from the US Government?

Coronavirus: Did TRON receive funds from the US Government?

The TRON Foundation would have received $2.4 million from the US government to deal with the Coronavirus emergency. 

The rumour was reported by a Chinese news media and would have circulated in the local TRON channel on WeChat. According to it, the company led by Justin Sun would have received 17 million yuan as part of the CARES act

This is the act by which the United States has allocated $2.2 trillion to help families and businesses recover from the Covid 19 emergency. 

However, the funds contained in CARES (an acronym for Coronavirus Aid Relief and Economic Security) would also be directed to companies that apparently do not need them. This is the case, for example, with the “scandal ” linked to the 9 million that had been assigned to Harvard University, which can boast an internal endowment of 40 million dollars. 

Overwhelmed by controversy, the prestigious university had to give up the state funds.

It appears that TRON, which is based in San Francisco, also benefited from the same funds. The TRON Foundation didn’t comment on the issue. Even the eccentric Justin Sun hasn’t responded. 

Coronavirus: Tron needed help?

What’s certain is that TRON doesn’t seem to be in trouble, since the Foundation owns an empire that besides TRON includes the video platform dLive (recently abandoned by the famous YouTuber PewDiePie), BitTorrent and now also Steemit

In addition, many businesses much smaller than the TRON Foundation would appear to have had problems accessing government funds. Other startups in the crypto and blockchain world would also be excluded.

It should be remembered that not even a year ago Justin Sun could afford to pay something like $4.6 million for a charity lunch with Warren Buffett

The news that the TRON Foundation would have tapped into the fund to support salaries generated two types of issues:

  • Did they really need it? 
  • Did the US give recognition to a crypto business?

At the moment these two questions remain unanswered. On Twitter, several users complain about both issues and it’s common to find posts complaining about having to pay taxes to support the activities of TRON.

Eleonora Spagnolo
Eleonora Spagnolo
Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.