Home News Justin Sun resigns as CEO of Tron Foundation

Justin Sun resigns as CEO of Tron Foundation

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Tron founder Justin Sun has announced his resignation of the Tron Foundation CEO to become an ambassador of Grenada’s representative to the World Trade Organization (WTO).

According to him, he is not leaving the project; but “rather withdraws from active participation in it and the role of a leader”. “I will still be engaged with the TRON community and push for further advancement of the TRON blockchain,” Sun wrote.

Moreover, he noted that his decision contributes to the decentralization of the Tron network. Which is currently managed by 27 elected “super-representatives”. Tron Foundation and BitTorrent had previously left their number, he stressed.

Fight for the interests of developing countries and promote blockchain technology

In his new position, Sun intends to fight for the interests of developing countries and promote blockchain technology in the WTO. In an interview with CoinDesk, he said that he also plans to work on the legitimization of cryptocurrencies in Latin America after the “El Salvador’s success.”

According to Sun, Grenada provides various advantages for blockchain-related enterprises. The island nation, which is geographically near to the United States, recognizes English as one of its official languages. It also has a strong educational system, with one of the strongest colleges in the region. Which will be a breeding ground for future blockchain engineers, he said.

Against the background of the news, the price of the TRX token collapsed from levels around $0.085 to around $0.082.

Central Party School’s research project

Earlier in July, Justin Sun spoke about participating in a research project of the Central Party School. Which trains cadres of the Communist Party of China.

The Central Party Committee approved the initiative to explore the benefits of blockchain in social governance and look for creative uses, the statement said.

Some Weibo users praised the announcement, seeing it as motivated by nationalist sentiment. Members of the People’s Bank of China, the Central Cyberspace Administration; as well as experts from CAICT, the China Information Association, Tsinghua University, and Peking University make up the research project team.

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