Skip to content

Justin Sun steps down as Tron CEO effective today

Picture of Justin Sun, tron ceo

Tron (TRX) CEO Justin Sun is stepping down from the role effective Friday 17 December. 

In an exclusive interview with CoinDesk, Tron’s founder said that he will now focus on pushing for the legitimization of blockchain technology in Latin America.

To this effect, he is assuming the role of an ambassador of the Grenada government to the World Trade Organization (WTO). Although he will no longer be actively involved in the day-to-day running of Tron, the 31-year-old said he will make every contribution he can towards the growth of the network.

TRX holders to take over governance

Justin Sun has headed the Tron blockchain since its creation in 2018 and the network has grown fast to become a major competitor to Ethereum from which it was created. Tron has provided an alternative to Ethereum for low fee transactions in stablecoins such as USDT and also now supports DeFi tokens such as Wrapped BTC and Wrapped Ether.

Following his decision to step down, Sun said TRX holders will take over the running of the network, now that it has attained true decentralization. For the time being, there has been no announcement of a successor to Sun, although it is unclear if this will be the new status for the network.

Pushing for blockchain in Grenada

El Salvador, a small Latin American country has made news on a number of occasions for becoming the first country to recognize Bitcoin as legal tender. Though this may not seem like much, it is the inspiration for Sun to pursue the legitimization of blockchain in Grenada, another Latin American country.

According to Sun, Grenada has a lot of advantages for blockchain-related businesses. The country has a good education system that could help train the next generation of blockchain developers. 

He further added that a successful legitimization of blockchain in Grenada could spur the United States and China to pursue the technology with more vigour, thus promoting a general adoption. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.