Crypto King and Tron founder Justin Sun is pivoting to politics however not precisely the place one would count on. The 31-year-old billionaire introduced he’s stepping away from his earlier cryptocurrency initiatives and can as an alternative tackle a job as ambassador of the Grenada authorities to the World Trade Organization (WTO). Sun appeared to create a brand new straight-laced Twitter account to mark the event with a bio studying: “His Excellency Mr. Justin(Yuchen) SUN.”
Sun, who was born and raised in China, however has apparently been a everlasting resident on the small island science 2019.
The new place doesn’t imply Sun is thru pushing crypto. Far from it really.
“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 told 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.”
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Sun reiterated this sentiment in a series of tweets the place he wrote concerning the significance of the crypto trade primarily breaking bread with worldwide regulatory establishments. “The due recognition of the #blockchain industry by sovereign states will be the final milestone towards achieving a truly decentralized financial infrastructure,” Sun mentioned.
Sun began his tech pursuits with a Tinder-like stay streaming audio app referred to as Peiwo. That was finally taken off the Apple and Google app shops and shut down by the Chinese authorities for its pornographic-tinged content material that “disrupts socialist values,” The South China Morning Post notes. While working Tron, Sun gained a infamous popularity for his dictatorial management type and lavish spending habits, with some calling him “the Chinese Trump,” according to The Verge.
In 2018, his firm acquired the peer-to-peer file-sharing website BitTorrent for $140 million. Sun then poured $100 million into an funding round blockchain-based video video games. More just lately Sun has made a reputation for himself by diving deep into the expensive NFT bidding world. Sun was one of many high bidders for a $60.25 million Beeple NFT earlier this 12 months. Though he fell quick, that endeavor appeared to instill an urge for food for much more luxurious collectible spending, this time in actual life. Sun reportedly moved on to buy an old style bodily Pablo Piccasso portray for round $20 million and has since spent $78.4 on a Million Giacometti sculpture.
In his interview with Bloomberg, Sun mentioned Grenada and different Caribbean islands are enticing to Crypto entrepreneurs since they’re near the United States however free from most rules or taxes. Indeed, fellow crypto lords have moved to the area in recent times with a number of nations starting to just accept cryptocurrencies for funds. Riding that wave, close by Barbados this week grew to become the primary nation to open an embassy in “the metaverse.”