Tron founder Justin Sun appointed Grenada ambassador

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Crypto King and Tron founder Justin Sun is turning to politics, but not exactly where you might expect. The 31-year-old billionaire has announced that he is stepping down from his previous cryptocurrency projects and will instead take on the role of the Grenada government’s ambassador to the World Trade Organization (WTO). Sun appeared to set up a simple new Twitter account to mark the occasion with a bio read: “His Excellency Mr. Justin (Yuchen) SUN.”

Sun, who was born and raised in China, but has apparently been a permanent resident of Small Science Island in 2019.

The new position doesn’t mean Sun has finished pushing the crypto. Far from it in fact.

“Our crypto industry has entered the scene, we really need sovereign states, regulators and international organizations to recognize the potential and benefits of blockchain technology,” Sun told Bloomberg News. “That’s why I think I’m going to devote a lot of my energy to trying to 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 the development of new technologies in Granada.

Sun reiterated this sentiment in a series of tweets where he wrote about the importance of the crypto industry in essentially breaking bread with international regulatory institutions. “Due recognition of the #blockchain industry by sovereign states will be the last step towards achieving a truly decentralized financial infrastructure,” Sun said.

Sun started its tech business with a Tinder-like live audio app called Peiwo. It was eventually pulled from Apple and Google app stores and shut down by the Chinese government for its pornographic content that “disrupts socialist values,” notes the South China Morning Post. In running Tron, Sun gained a notorious reputation for his dictatorial leadership style and lavish spending habits, with some calling him “the Chinese asset,” according to The Verge.

In 2018, his company acquired the peer-to-peer file-sharing site BitTorrent for $ 140 million. Sun then invested $ 100 million in an investment around blockchain-based video games. More recently, Sun has made a name for itself by diving deep into the expensive world of NFT auctions. Sun was one of the top bidders for a $ 60.25 million Beeple NFT earlier this year. Though it failed, the effort seemed to instill an appetite for even more luxurious collectibles spending, this time in real life. Sun then reportedly bought an old-fashioned physical painting by Pablo Piccasso for around $ 20 million and has since spent $ 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, other crypto lords have settled in the region in recent years, with several countries starting to accept cryptocurrencies for payments. Riding this wave, neighboring Barbados this week became the first country to open an embassy in “the metaverse”.

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