The founder of Crypto King and Tron, Justin Sun, turns to politics, but not exactly where you would expect. The 31-year-old billionaire announced that he is stepping away from his previous cryptocurrency projects and instead taking on a role as ambassador of the government of Grenada to the World Trade Organization (WTO). Sun seemed to make a new straight-laced Twitter account to mark the occasion with a bio lecture, “His Excellency Mr. Justin (Yuchen) SUN.”
Sun, born and raised in China, but apparently a permanent resident on the small island of science 2019.
The new position does not mean that Sun is done pushing crypto. Far from actually.
“Our crypto industry has taken the stage, we really need sovereign states and regulators and international organizations to recognize the potential and benefits of blockchain technology,” Sun told Bloomberg news. “That’s why I think I’ll spend a lot of my energy pushing blockchain technology and cryptocurrency – the importance of all of this in developing countries and also in developed states. I will also try to promote the development of new technology in Grenada.”
Sun echoed this sentiment in a series by tweets where he wrote about the importance of the crypto industry essentially breaking bread with international regulatory bodies. “The proper recognition of the #blockchain industry by sovereign states will be the final milestone on the road to achieving a truly decentralized financial infrastructure,” Sun said.
Sun started his tech pursuits with a Tinder-like live streaming audio app called Peiwo. That was eventually pulled from Apple and Google app stores and shut down by the Chinese government for its pornographic content that “distorts socialist values,” The South China Morning Post notes. While running Tron, Sun gained an infamous reputation for his dictatorial leadership style and lavish spending habits, with some calling him “the Chinese Trump.” according to The edge.
In 2018, his company acquired the peer-to-peer file-sharing site BitTorrent for $140 million. Sun then poured $100 million into a investment around blockchain-based video games. More recently, Sun has made a name for himself by to dive deep in the duration NFT bidding world. Sun was one of the toppers bidders for a $60.25 million Beeple NFT earlier this year. Though he fell short, that pursuit seemed to spark a hunger for even more luxurious collectibles, this time in real life. sun reportedly went on to buy an old-fashioned physical painting by Pablo Piccasso for about $20 million and has since issued $78.4 on a million Giacometti sculpture.
In his interview with Bloomberg, Sun said Grenada and other Caribbean islands are attractive to Crypto entrepreneurs because they are close to the United States but free from most regulations or taxes. Indeed, fellow crypto lords have moved to the region with several countries in recent years starting to accept cryptocurrencies for payments. Riding that wave, nearby Barbados this week became the first country to embassy in “the metavers”.
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