TRX Founder Justin Sun Ends His Term As Ambassador Of Grenada For WTO

JAKARTA - Justin Sun, founder of blockchain platform Tron, completed his term as Ambassador of Grenada for the World Trade Organization (WTO) on March 31.

Sun was appointed to the post in December 2021, after obtaining approval from the WTO and the Grenada government. Sun said that he wanted to take advantage of his experience in digital technology and the digital economy to support the development of Grenada and neighboring countries in the Caribbean region.

Sun's diplomatic term ended after the SEC accused Tron boss of market fraud and manipulation. The SEC sued Sun and several other celebrities, including Lindsay Lohan, Jake Paul, and Soulja Boy, for their role in the sale of unregistered TRX and BTT tokens, which were considered securities by the SEC.

The SEC also accused Sun of wash trading, namely increasing the volume of asset trading spuriously. Sun denies the allegations and says that he will continue to build the most decentralized financial system.

In a series of his tweets on Twitter, Sun announced the end of his term as Grenada's representative for the WTO, which took effect on Friday, March 31, 2023. Sun stated that he gained valuable experience during his tenure as ambassador, and managed to gain insight and views on various trade issues through his interactions with representatives from around the world.

With his diplomatic status over, Tron founder said he was preparing to hand over his post to his successor, with plans to focus on crypto regulation and the digital economy.

"In the coming months, I will focus on transitioning my duties to my successor. Next, I plan to rest for a moment before continuing my career as a civil servant, with a particular focus on the digital economy and crypto regulation, because I believe that this area is very important for the future of trade and development," Sun said as quoted by CryptoPotato.