Justin Sun, founder of the TRON blockchain has expressed interest in actively trading meme coins and other promising projects through his public address.
The TRON founder also stated that any future benefits emerging out of exchanging these tokens will be given to charity, and would personally bear losses if any.
Sun then clarified that his tweet shouldn’t be interpreted as financial advice and advised readers to conduct their own research before making any investments.
However, it’s crucial to remember that my investments do not constitute financial advice, and there is no guarantee of listing these projects on any exchange, including HuobiGlobal and Poloniex. I am simply trading coins for fun. Always do your own research before investing!
A few days back, Sun, who is also a crypto entrepreneur pledged to fund up to $1 million to attract meme coin developers to build on his Tron network.
In addition to the monetary support, the Tron founder offered a prioritized listing of participating meme coins on Huobi and Poloniex.
Moreover, Sun also revealed that TronDAO will create a Memeverse fund, which will allocate 20 million TRX to reward the most popular meme token projects within the Tron ecosystem.
The announcements go beyond simple acts of generosity.
As a seasoned entrepreneur, the TRON founder is aware of the importance of luring as many alluring investment projects to the blockchain as possible.
TRON Founder’s SUI “Market Making” Fiasco
The initiatives are part of his strategy to capitalize on the meme coin mania that is currently permeating the crypto market as profit-seeking traders continue to pour more money into these assets.
Not long ago, the TRON founder set sights on the then highly awaited Sui tokens of a layer-1 blockchain created by Mysten Labs.
For most context, Binance released two LaunchPools for the token on April 30 declaring that users could stake either BNB or TrueUSD [TUSD] to farm a portion of the 40 million Sui tokens available in each pool.
But the frenzy over the Sui token was so intense even Sun could not resist who was spotted transferring around $56 million worth of TrueUSD [TUSD] stablecoins on the exchange.
After getting publicly rebuked by Binance CEO, Sun later issued an apology with regard to the deposit, claiming that the funds were intended for “market making,” before returning back the farmed tokens.