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JUSTIN SUN RESIGNS AS CEO OF TRON - FOUNDATION DISSOLVES COMPLETELY!



Sun justified his resignation in an open letter posted on the Tron website addressed to the team and community. Although he has always longed for a management position where he can inspire people, he ended up in the blockchain area and became the founder of Tron.


He explained:


Since my early days, I have always strived to be a successful entrepreneur and an effective leader, and I have cherished the prospect of building a profitable business empire that will serve the needs and satisfaction of my customers, shareholders, and employees. But instead I stumbled into cultivating a decentralized blockchain platform: TRON. Although formed by accident, TRON became one of the earliest communities of decentralized autonomous organizations (DAOs) in human history. And I've never regretted my decision to set up TRON since then.


Even then, Tron met with a lot of criticism due to its innovative streak. Known as the Ethereum Killer, the project was hugely hyped in the Bullrun of 2017. During this period and the year after, the system has therefore continued to grow and launched the Bittorrent project, which was later renamed Rainberry.


Tron Foundation dissolves

On July 25th of this year it was announced for the first time that the Tron Foundation will be completely dissolved. Justin Sun will act as ambassador for the government of Grenada in the future. Sun has always been seen as the most important person behind the Tron project. Therefore, the decision to withdraw from the project is associated with a complete restructuring. Therefore, the Foundation is being dissolved and the future prospects of the project are unclear.


Alleged Ethereum killer collapses

Tron was already traded as an Ethereum killer with the crypto currency TRX in the early years. Thanks to more innovative process structures and a differently working blockchain network, there was an enormous hype around the two projects a few years ago. The hype has increased TRX enormously in a very short time. Now the crypto currency is in 24th place by Coinmarketcap and is therefore one of the 30 largest crypto currencies worldwide, measured by market capitalization. 



What this decision means for TRX-Hodler is uncertain. The future will tell whether the management level of the project will be repositioned. One of the most important middlemen of the project went through Justin Sun, which will create a lot of uncertainty in the market for the next few months. 

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