Justin Sun declared he was prepared to spend $5 billion buying crypto companies. Tron, a decentralized blockchain platform that houses the TRX (TRX-USD) token, was founded by Sun. We are friends with everyone and are always ready to serve. https://t.co/WBXwG5GDqL — H.E. Justin Sun 🅣🌞🇬🇩 (@justinsuntron) July 8, 2022 Justin Sun Ready to Spend $5 Billion Buying Cryptocurrencies Sun claimed that plenty of crypto companies have already contacted him for financial assistance after tweeting that he is “ready to serve.” “We are actively reviewing it and seeing what we can do here. We are ready to spend [$]5 b[illion] on helping the industry builder[s] to continue [to] build.” Sun would not specify which investment banks he had already contacted, but they may assist with potential deals. In addition, he has already had contact from 50 to 100 cryptocurrency companies. There are currently $2.3 billion in reserves in Tron’s DAO. Sun stated that the $5 billion would consist of his funds and Tron’s. He added that, on the plus side, he thought the worst of the crypto winter had passed. Introducing USDD Sun declared in April that Tron would introduce USDD, a new algorithmic stablecoin (USDD-USD). The stablecoin will continue to be tied to the dollar with the aid of TRX. According to Sun, the algorithm will guarantee that the USDD will remain fixed “independent of market conditions.” Additionally, the USDD will receive custodial reserves o...
