On Wednesday, Bloomberg TV conducted a special interview with Justin Sun, the CEO and Founder of TRON (TRX). He talked about the development of stablecoins and the legal troubles he ran into in the cryptocurrency business.
Tron’s adoption in BRICS nations
Sun started talking about stablecoins, or the actual USD because they are now a limited alternative. Additionally, as stated in a previous tweet by him, Hong Kong’s stablecoin will debut on TRX sooner.
The inventor of TRON also noted that TRX and Circle work together through decentralized apps (dApps) and cryptocurrency exchanges. In addition, he focused on the SEC litigation and the rumors surrounding Binance’s acquisition of Huobi Global.
Even if there were disputes during the previous week, Sun said, the Tron network is still processing the market expansion. The adoption of TRX as legal money in five separate nations is Sun’s key performance indicator (KPI) for the year 2023, regardless of other factors. The Tron community published a tweet, in the beginning, criticizing the possibility that China might support the BRICS countries’ offer of the same design.
Tron is undergoing a challenging phase
The US Securities and Exchange Commission (SEC) filed a complaint last month alleging that Justin Sun, the founder of the blockchain technology TRON, and three connected organizations sold cryptocurrency BitTorrent (BTT) and Tron (TRX) without authorization.
Earlier, the US branch of Binance delisted TRX, the native token of Justin Sun’s Tron cryptocurrency network.
Binance came to this conclusion after taking into account several factors, including changes in a token’s risk profile, trading volume, liquidity, regulatory status in the US, and evidence of fraudulent behavior, which it claimed was part of a periodic evaluation.
Despite Justin Sun’s best efforts, Huobi has had a low trade volume recently. To promote trade, even shitcoins are listed on the exchange.