According to a new report from Bloomberg, Tron founder Justin Sun may hold approximately 64% of the circulating TRX supply.
This claim is based on a list of assets Sun’s team shared with Bloomberg.
The Tron network, led by Sun, has become a prominent global payments system. By enabling fast, cheap, and anonymous cross-border money transfers through dollar-backed stablecoins, Tron has reached a monthly transaction volume of $600 billion.
This figure is more than four times PayPal’s volume. Meanwhile, as some allies in Washington are pushing for regulations that will pave the way for Tron’s further expansion in the US, the Trump family is also promoting their own stablecoin project using Tron’s infrastructure.
However, the Tron network has long been mired in controversy. Money laundering experts allege that the platform has become a payment network favored by terrorist organizations, Russian sanctions evasion groups, and Chinese criminal groups operating large-scale fraud. Sun maintains that it helps authorities block illegal transactions but claims it bears no direct responsibility due to the network’s decentralized nature.
The controversy escalated further with a valuation published by the Bloomberg Billionaires Index in August. The index claimed Sun held 60 billion TRX, based on wealth calculations he shared in February, putting his net worth at $12.5 billion. Sun filed a lawsuit in federal court in Delaware challenging this report.
Sun’s lawyers argued that the list shared with Bloomberg erroneously included ecosystem wallets not owned by Sun, arguing that Sun does not control the majority of the Tron supply. However, Sun’s lawyers declined to specify which wallets were not owned by him, Bloomberg reported in a court filing.
On September 22, a court rejected the Sun’s request for an injunction to block the story. The case is still ongoing.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/bloomberg-claims-most-of-this-altcoins-total-supply-is-controlled-by-justin-sun/
