In a brief video shared on his social media account, Justin Sun reflects on his professional journey, highlighting the transition from his background as a lawyer to his current role as a prominent figure in the tech business world, particularly within the cryptocurrency industry.
Justin Sun, in a short video shared on his social media account, reveals his preference for being a builder rather than a lawyer. Reflecting on his professional journey, he highlights the transition from practicing law to becoming a prominent figure in the tech business world, specifically within the cryptocurrency industry.
As the founder of Tron, Justin emphasizes his passion for his current endeavors. He clearly finds fulfillment and enjoyment in his role within the technology sector, particularly in developing cutting-edge products related to cryptocurrencies. This shift indicates his strong inclination towards creating highly innovative tech products compared to his previous career as a lawyer.
He is a Chinese-born entrepreneur and business executive well-known in the blockchain industry. He is the founder of TRON, a blockchain DAO ecosystem, and has served as CEO of Rainberry Inc and BitTorrent since June 2018.
He has been named Forbes’ 30 under 30 in the Consumer Technology category several times, among other global recognitions. He is an active philanthropist and space enthusiast and has been involved in various projects for the welfare of others and donations given to good causes.
The lawyer has also been involved in the development of other technology companies, such as Ripple’s China business and Peiwo, a popular live chat app in China with over 10 million registered users.
Justin acquired the Web3 social media platform, Steemit, in 2019 and bought over the Stem blockchain in 2020. He also holds ownership stakes in Huobi Global and Poloniex.
Better financial reward
He also noted in the video that one of the reasons he chose his current path of career is because of the financial promises it has, which are not always possible without building or owning products.
As of October 2, 2023, Justin Sun’s net worth is estimated to be $1.1 billion, taking into account the crypto assets in his publicly known crypto wallets.
Tron blockchain is one of the most prominent protocols in the industry and has attracted attention from popular figures such as the former CEO of Binance, CZ, and firms like Wintermute, BitGuild, and DWF Labs.
Lost diplomatic status and sued by SEC
In 2021, Justin Sun, the founder of the Tron blockchain, was granted diplomatic status by Grenada to the World Trade Organization (WTO). However, after the June 2022 election, Grenada recalled all its diplomats, including Sun.
During these elections, the New National Party, which had appointed Sun as ambassador, was ousted from power. As a result, Sun lost his ambassadorial status in the early months of the new administration, which had been in place for nine months.
Furthermore, in March 2023, the Securities and Exchange Commission (SEC) charged Sun, along with his companies: Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent).
The charges are related to the unregistered offer and sale of crypto asset securities, specifically Tronix (TRX) and BitTorrent (BTT). Additionally, Sun and his companies are accused of fraudulently manipulating the secondary market for TRX through wash trading and orchestrating a scheme to pay celebrities to promote TRX and BTT without disclosing their compensation.