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If you introduce it seriously, Justin Sun is a controversial Chinese entrepreneur and cryptocurrency entrepreneur. What Sun is best at is bugs. He feels that the world is a grass-roots team, and many rules are the same as playing house, but you must first pretend to respect it. You don't have to agree with him, but you have to admit that his mind is indeed different from ordinary people's.
1. Early Entrepreneurship and Knowledge Payment (2014-2017) ◦ Created the audio social application "Peiwo APP". During this period, he was active on social media, built his personal IP, and accumulated initial popularity. ◦ Becoming the first batch of students at Hupan University has strengthened the image of being associated with business leaders such as Jack Ma. 2. All in Blockchain and TRON ICO (2017-2018) ◦ In 2017, he seized the popularity of cryptocurrency and founded the TRON project. ◦ Approximately RMB 400 million was raised through ICO (Initial Coin Offering). ◦ In the early stages of the project, it was questioned that the white paper was plagiarized, and its technical strength was widely doubted. But with strong marketing capabilities, TRON and its token TRX have gained huge attention. 3. The controversial exit of the “King of Marketing” (2019 to present) ◦ In 2019, Buffett's lunch was auctioned for a record-breaking $4.56 million, shocking both China and the world. Later, it was postponed due to "kidney stones", which staged a highly controversial media farce and gained unprecedented global exposure. ◦ Since then, he has taken the porcelain marketing strategy to the extreme: frequently focusing on hot topics (such as Musk’s acquisition of Twitter, the World Cup, and various currency crises), making high-profile “bailout” announcements on social media, and promising various grand but often questionable cooperations. Its core purpose has always been to attract traffic and attention to Tron and its ecological projects. 4. Current situation and expansion ◦ The Tron public chain has become one of the important cryptocurrency trading networks in the world, known for its low fees and high speed, but it is also often associated with negative activities such as gambling and money laundering. ◦ Justin Sun himself obtained the status of a Grenadian diplomat and acquired the exchange Poloniex to continue to expand his business territory. ![]() “"Cutting leeks" is an Internet meme in the Chinese cryptocurrency circle. It refers to the behavior of bookmakers or project developers to raise asset prices through speculation and then sell them, resulting in losses for retail investors. Sun Yuchen was nicknamed "Sun Cut". The main reasons include: 1. Tron ICO controversy: Tron’s ICO raised approximately 400 million yuan, but it was accused of slow progress in project implementation. The price of the token TRX has been depressed for a long time, and early investors suffered serious losses. 2. Frequent operations and suspicion of selling: The community has repeatedly questioned Justin Sun and related addresses for reducing their holdings and cashing out after raising TRX or other related tokens (such as BTT and JUST). 3. "Buy the hot spot - sell off" cycle: For example, announcing the acquisition of a certain project or cooperation and other good news pushed up the currency price, and then the market suspected that its team or related parties would reduce their holdings. Justin Sun is good at exploiting rule loopholes (commonly known as "bugs") and traffic marketing, specifically as follows: 1. Rule vulnerability exploitation cases • Arbitrage and airdrops: During the DeFi (decentralized finance) craze in 2020, TRON ecological projects (such as JUST and SUN) were questioned to give teams or early participants an unfair advantage by designing token economic models. For example, price manipulation through high premines or low liquidity pools. • Exchange operations: The community suspects that it uses exchange volume wash or "left-hand over right-hand" trading to create the illusion of activity and attract retail investors to follow up. • Compliance avoidance: After the Tron ICO, Chinese regulation stopped the ICO, and Justin Sun shifted his business overseas, but he still influenced domestic users through social media. 2. Traffic earning strategy • Extreme Marketing: Controversial events (such as the postponement of Buffett's lunch) continued to dominate the media headlines, and were even criticized by some media as "porcelain marketing." • Social media persona: He claims to be the “savior of cryptocurrencies” on Twitter, Weibo and other platforms, and frequently announces “buying dips” and “rescues” (such as claiming to support victims of the LUNA crash), but his actual actions are often questioned for show. • Bind celebrities and hot spots: For example, it claimed to provide funds for Musk's acquisition of Twitter, or proposed an "encrypted payment solution" to take advantage of the Russia-Ukraine conflict, although most of the proposals have not been confirmed to have been implemented. • Supporter's point of view: He is considered a successful marketer and entrepreneur who has promoted the TRON ecosystem (such as the growth of TVL on the TRON chain) and the popularity of cryptocurrency, and even praised it as "black and red are also red". • Critics point of view: ◦ Suspicion of fraud: repeatedly accused of false propaganda, over-promise, and mismatch between TRON’s technical strength and marketing; ◦ Harvest retail investors: Make ordinary investors become "takers" through market operations”; ◦ Regulatory risks: Tron and its related projects (such as Tron Bank) have been investigated by the US SEC and accused of illegal securities issuance. - Justin Sun's growth trajectory shows his strong marketing capabilities and understanding (and even utilization) of the rules of the cryptocurrency industry, but he has also been labeled "Sun Cut" due to frequent controversial operations. His success is largely based on traffic monetization and controversial marketing, while technical contributions and the long-term value of the project remain in question. For investors, its behavior is a warning of the high risks and information asymmetry of the cryptocurrency market. ; For the industry, he has become the epitome of a discussion on the boundary between "speculation and innovation". Men as crazy as Trump are promoters of innovation and also have extremely powerful destructive power. As a centralized and unified country, we should be wary of the financial risks behind marketing hype, especially in the field of cryptocurrency where there is still a lack of effective supervision. |