Justin Sun, Tron blockchain founder, is as compassionate about distressed crypto firms as he was willing to bail out many.
Sun indicated that he is open to committing as much as $5 Billion to help distressed crypto companies, although Tron has so far not announced any news about bailing out any crypto firms.
Sun confirmed that it will spend $5 billion on The Block, according to his request. tweeted that he is “friends with everyone and are always ready to serve,” a response to a Twitter user who said firms are forgetting Sun as a deep pocket crypto founder at par with the likes of Changpeng Zhao of Binance and Sam Bankman-Fried of FTX Exchange.
Sun stated that there have been many problems with crypto startups and that Tron has used the services an Investment Bank to assist them in funding. The Non-Disclosure Agreement prevented him from naming the bank, but he said that the bank’s core interests lie with projects with large user bases.
Sun stated, “Our interest in platforms with a large users base,” “Both CeFi [centralized finance] DeFi [decentralized finance] platforms.”
Sun noted that companies that he would like to bail out need to be able to withstand the rigorous due diligence process. Sun believes that the current onslaught of digital currency ecosystem vultures is over and will focus his efforts to build up the necessary resources.
“I believe that the current de-leverage process has passed its worst hour. We just have to get it under control and move on. I don’t think so. [the] He stated that the market would be extremely bullish.
While Binance’s Changpeng Zhao Believes Not all projects are worth saving. Voyager Digital and BlockFi have recently shown this. Received credit facilities FTX Derivatives Exchange.