TL;DR Breakdown
- Justin Sun has resigned as the CEO of TRON for a new position as WTO ambassador for Grenada.
- TRON will run on a decentralized path, as Tron Foundation has also been dissolved.
Justin Sun, the founder of TRON and crypto entrepreneur, announced Friday he is stepping down from his role as the chief executive officer of the blockchain network. He has embarked on another journey that places him in a better position to “promote close collaboration between the blockchain industry and international organizations,” Sun wrote to the community.
Justin Sun becomes Grenada ambassador
Sun accepted an invitation by the Grenadian government to become their ambassador and permanent representative to the World Trade Organization, an intergovernmental body that regulates international trade between nations. Under the new office, Justin Sun will fight for the country’s interests while also promoting blockchain.
Starting this new journey meant Sun steps down from his long-time position as the CEO of TRON, one of the biggest public blockchains. The control and development of the blockchain will be managed by 27 super representatives hosted by the community. “I do not doubt that #TRON has embarked on a new phase of true decentralization,” Justin Sun tweeted.
The Tron foundation dissolved itself on July 25, 2021, and “justinsuntron,” “BitTorrent,” and “µTorrent,” reportedly withdrew as members of the TRON representatives, leaving the blockchain in the control of the community.
New path for TRON
As TRON management goes to the community, many cryptocurrency users are excited and at the same time curious to know how what improves or changes for the blockchain.
Meanwhile, the development today comes TRON continues to record significant growth in network users and value of assets locked. The TVL on the blockchain recently crossed $11.2 billion, as the total number of accounts reached 65,895,771. As of December 13, TRON reported a block height of over 36.16 million.
At the time of writing, the native token TRX was down to $0.08054 (7.84%), which could result from the bear market or Justin Sun’s resignation.
