Justin Sun steps down as CEO of Tron and joins Grenada government
Justin Sun steps down as CEO of Tron and joins Grenada government
Blockchain

Justin Sun steps down as CEO of Tron and joins Grenada government

By Stefania Stimolo - 17 Dec 2021

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Justin Sun, CEO of the Tron Foundation behind the eponymous Blockchain, has resigned and become Ambassador, Permanent Representative of Grenada, at the World Trade Organization in Geneva. 

Justin Sun leaves Tron and becomes a Grenada diplomat

The CEO of Tron has announced that he is stepping down from his role to join as Ambassador, Permanent Representative of Grenada, at the World Trade Organization in Geneva.

On his new official Twitter account as a diplomat, Sun shares his announcement:

“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.

Congratulations @HEJustinSun on his appointment as Ambassador, Permanent Representative of Grenada to the World Trade Organization. 

WTO Minister of Foreign Affairs Oliver Joseph with H.E. Mr. Justin Sun”.

According to Bloomberg reports, the crypto world genius has been residing on the Caribbean island of Grenada since 2019, and has decided to phase out his participation in crypto-related projects. 

At the moment, Sun still owns Tron tokens and the BitTorrent file-sharing service, but his choice to pursue a new career as a diplomat for Grenada has been confirmed by his new appointment. 

 

Justin Sun leaves the Tron ecosystem while living in the Caribbean

Justin Sun, with his resignation as CEO, is expected to leave the entire Tron ecosystem involving the Blockchain and supporting other tokens of the TRC standard, gaming apps, and also supporting the first dollar pegged stablecoin by market capitalization, Tether (USDT)

On that note, here’s what Sun writes in another of his tweets:

“I’m not retiring from TRON, but rather stepping down from an active involvement to serve as leader and supporter role now that the TRON network has been truly decentralized.

I will still be engaged with the TRON community and push for further advancement of the TRON blockchain”.

In the Bloomberg interview, Sun then points out the following: 

“Our crypto industry has got into the stage, we really need sovereign states and regulators and international organizations to recognize the potential and the benefits of the blockchain technology,” Sun said in an interview with Bloomberg News. “That’s why I think I will focus lots of my energy, to try and push blockchain technology and cryptocurrency — the importance of all of this in developing countries and developed states as well. I will also try to promote new technology development in Grenada”.

Justin Sun CEO Tron
Tron lost 10% after CEO resigned

The effects on TRX and comments from crypto actors

At the time of writing, the 24th crypto by market capitalization is experiencing a price dump. With a -10% in the last 24 hours, Tron (TRX) is now worth $0.081

Perhaps this is an initial market reaction, but TRX’s price is exactly half of its ATH – All Time High price, marked last April 2021, of $0.16.

Meanwhile, on Twitter, crypto players such as CZ, CEO of Binance, Paolo Ardoino, CTO of Tether and Bitfinex and Zhu Su, the CEO and CIO of 3ac, congratulated Sun on his new role. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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