TRX Drops as Justin Sun Leaves Tron to Become His Excellency Ambassador

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Linas Kmieliauskas

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Linas Kmieliauskas

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June 26, 2023

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Tron (TRX) founder Justin Sun said he was appointed as the Ambassador, Permanent Representative of Grenada to the World Trade Organization (WTO), and now he’s stepping away from the day-to-day operations at the Tron Foundation.

At 11:31 UTC, TRX, ranked 23rd by market capitalization, traded at USD 0.0834 and was down 1.4% in an hour. The price dropped 5% in a day. TRX is up 168% in a year.

“A truly inclusive #financialinfrastructure that belongs to all mankind should be #unlimited, #decentralized, and #thresholdless. The next milestone for the industry is to establish a more harmonized relationship with international regulatory jurisdictions,” Sun tweeted today.

According to him, “sovereign states are the most fundamental building blocks of the world order.”

“The due recognition of the #blockchain industry by sovereign states will be the final milestone towards achieving a truly decentralized financial infrastructure,” he added.

“I look forward to the opportunity to represent Grenada and work with WTO leadership to reinvigorate global trade in various ways, particularly the development of a robust digital economy internationally,” Sun was quoted as saying in an announcement, shared with Cryptonews.com.

Meanwhile, Coindesk reported, citing an open letter by Sun, that the Tron Foundation will dissolve by next year and three super nodes associated with Sun will soon retire from Tron’s technical grid. Also, the 27 super representatives on the Tron blockchain will be elected by the Tron community, the report added.

Sun also reportedly said that he will continue promoting Tron’s brand while stepping away from the day-to-day operations at the Tron Foundation.
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Learn more: 
– Justin Sun Ventures Into GameFi Projects With USD 300M TRON Arcade Fund
– Justin Sun: Christie’s Tech Glitch Stopped Me Paying USD 70M for Beeple NFT

– Justin Sun Denies Bid to Enlist 13.6m-sub YouTuber as Tron ‘Shill’
–  Justin Sun Incites SEC With Tron Shilling After Suffering USD 8m GameStop Loss

– Tron’s Justin Sun Forced To Explain Himself Over Dictatorship Accusations Again
– Justin Sun Says Only These People Question Him
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(Updated at 11:49 UTC with a quote from Justin Sun.)