TRON founder Justin Sun says since the crypto market's recent downturn, he's received around 100 messages from struggling projects seeking the funding they need to continue. Binance founder CZ has made a similar statement, so it appears there's a number of struggling projects reaching out to anyone they think could help, in a last ditch effort to stay operational.
Justin Sun says he is willing to review the applications, and adds, "We are ready to spend $5 billion on helping the industry builders to continue building."
The $5 billion is a mix from 'personal funds' and the TRON Foundation...
"I think the de-leverage process has passed the worst time right now," Justin Sun opined, later emphasizing that he's mostly interested in crypto companies with a "large user base."
Furthermore, we've heard that TRON is in talks with an investment bank aimed at saving select companies.
TRON is one of the few coins that managed to hold up fairly well during the recent downturn - it's price today of $0.065 is actually higher than it was a year ago at $0.060, but still lower than the highest point in 2022 of $0.087.
Currently, it's been battling it out with memecoin SHIB (Shiba Inu) for the #13 rank on the top 100 coins list, where TRX is currently winning.
Not the only person from crypto, helping to save crypto...
Justin now joins Sam Bankman-Fried, founder of popular exchange 'FTX' who is also helping select deserving projects survive this crypto winter.Unlike the 'official' finance industry, crypto is saving itself - without taking advantage of taxpayers.
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Author:
New York News Desk
Breaking Crypto News
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