Justin Sun, the Tron Founder denies harsh accusations about Poloniex, once again, after a new report published recently accused him of misdeeds and bad business practices so let’s find out more in today’s latest Tron news.
The Tron Founder and Poloniex investor Justin Sun denied the allegations made by The Verge and said the report is “fabricated storytelling.” Sun is one of the most controversial figures in the crypto space but he said that he will likely take legal action to combat these allegations about his leadership at TRON and management of the crypto exchange Poloniex. The Chinese tech entrepreneur founded Tron in 2018 before purchasing P2P software firm BitTorrent and later on invested in Poloniex. About the new report in The Verge he noted:
“It is a complete falsehood on the part of the Verge and the reporter and a blatant defamation about the Poloniex operation.”
Initial response to the false accusations and fabricated storytelling of the verge article.
— H.E. Justin Sun 🅣🌞🇬🇩 (@justinsuntron) March 9, 2022
The report published recently accused Sun of using Tron and Poloniex for a slew of misdeeds like business practices that could turn out to be illegal. The article named “The Many Escapes Of Justin Sun” written by Christopher Harland-Dunaway, is actually a second article about Sun, while the first one was an article on BitTorrent. In a series of Twitter posts, Sun said about Poloniex:
“Polo enjoys robust risk management and strong financial resources that have provided top of class services to our customers throughout its history.Further, we have always strived to collaborate with regulators and invested in state-of-the-art KYC facilities in line with the industry standard.”
The Tron founder denies the allegation and refuted the claims that the exchange is based in Seychelles, noting that it won’t serve US residents. After Poloniex was purchased from Circle and the exchange announced it will shut off US customers’ access back in 2019. in April 2020, Poloniex pushed forward with the platform to launch an initial exchange offering which is a mechanism for selling new tokens on the exchange despite the regulatory scrutiny from the US SEC. Back in 2021, the exchange settled for $10 million with the SEC over the allegations it listed securities before Sun’s purchase of Poloniex but he didn’t admit nor deny the findings.
Sun gained publicity in the past as well for many reasons like buying dinner with anti-BTC investor Warren Buffet, paying celebrities to promote Tron, and buying a spot on the Blue Origin rocket. He even complained that the Ukrainian government will not airdrop crypto to TRON users that donated funds for their war efforts.
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