Justin Sun: Workaholics alone support the Chinese crypto community, no one pays attention to me personally

After Binance, Changpeng Zhao and US regulators reached a settlement with a sky-high 7.1 billion fine, people generally speculated that the US regulatory storm would not stop there.

While the Americans did not express their position, a technology media company listed in the United States first published a personal report on the founder of TRON, Justin Sun, without interviewing Justin Sun himself. Under the circumstances, a large number of unilateral and unverifiable speculations about his work and life have been made through a large amount of public materials and interviews with many unnamed so-called industry insiders.

In response to the renewed attention and interpretation of the Chinese media, Sun Yuchen, who has passed his thirties, responded on the "My heart is like still water" and I will no longer feel "unfair and unfair".

However, he also It reveals one thing: there is no time to care about anything else, which also confirms the fact that the media reports are "workaholics".

Since 2008, the blockchain and encryption industry has also experienced a whole generation. Among the "old players" who are now active in the industry, Sun Yuchen is the well-deserved first person. This can also be explained from the side. This explains why at the Web 3.0 Carnival in Hong Kong in 2023, although some people launched pranks against Sun Yuchen on social platforms, they shouted "Senior Sun" offline for a group photo.

Justin Sun is indeed controversial, but it is undeniable that after Changpeng Zhao retired, Justin Sun has become the most influential Chinese practitioner in the encryption circle.

Justin Sun: Seeking a decentralized self

After being reminded that someone else had written a negative article to discredit himself, Justin Sun said that he had no time. Don't worry about anything else.

For the blockchain and encryption industry, Justin Sun himself believes that he has a heavy responsibility. This responsibility actually comes from both internal and external factors. The internal factors are how to guide Huobi HTX to return to the top cryptocurrency exchange, and how to allow TRON to continue to receive smooth blockchain services for the 200 million users it has just gained. The external factor is that the reckless era of the industry has passed. In 2023, for the industry, it has reached the edge of a cliff and has no choice but to jump over it. With the multi-pronged attacks of US regulatory authorities, compliance has become the first thing that encryption companies and projects need to consider.

At a critical moment for the industry, Huobi HTX and TRON, it is not difficult to understand why he is so uneasy about the media’s speculation and reports about him personally.

In this regard, Sun Yuchen joked, "I don't want my role to be too big," and it is best to be decentralized to "let everyone feel at ease."

Sun Yuchen in 2023 has become different from the past. He no longer shows off the jumping image of the past, and he has a clearer understanding of his positioning and goals. He is still unsmiling, but in the first half of the year he proposed his personal positioning: a believer, preacher and practitioner, who must participate in creating an emerging financial order brought about by blockchain technology.

He believes that for Much of his criticism comes from a financial perspective. It’s not just money that has become a common source of anxiety for people in modern society, it’s what he calls the “disorder” he perceives. Justin Sun wrote in his tweet that "money may be a possibility of freedom" and "like a part of order." In the financial field, disorder will have serious consequences.

Blockchain is a better financial order for humans. Justin Sun interpreted it as a financial system that is available to everyone, has low thresholds, and is truly inclusive.

To achieve this goal, we need to reassure regulators, satisfy users, and accept social acceptance. Sun Yuchen said frankly that although TRON and Huobi HTX have implemented many functions and launched many products and services, they are still one year away from each other. There is still a lot of work to be done in a fully decentralized and compliant future.

The encryption industry from the perspective of information cocoon room

On the other hand, due to special domestic reasons, blockchain and cryptocurrency are on the public platform There is significant stigmatization, which further deepens public prejudice against the industry and Justin Sun. In fact, the value of blockchain and cryptocurrency is not only widely recognized in developed countries such as Europe, the United States, Japan and South Korea, but has also become an important part of inclusive finance in some developing countries.

Initially, the encryption industry was a gathering place for crypto geeks, and it was also a niche industry that was not accepted by the mainstream. With the continuous development of encryption technology, the encryption industry has been adopted by many countries and some commercial institutions as a cutting-edge technology strategy and an integral part of modern financial services.

Currently, a number of Web2 business giants, including Visa, Tesla, BNY Mellon, BlackRock, etc., are embracing cryptocurrency by supporting payment and purchase and holding. At the national level, El Salvador previously adopted Bitcoin as the country’s legal tender, and later the US state of Colorado accepted cryptocurrency as a method of tax payment. This year, the Japanese Kishida government also formulated a Web3 national rejuvenation strategy, hoping to revive the Japanese economy through emerging industries. Many countries and regions, including Asia, Europe and the United States, are also exploring emerging policies that are friendly to the development of the encryption industry.

In addition, the field of encrypted assets is having a positive impact on traditional finance. A number of financial institutions, represented by Grayscale, Ryder, Invesco and WisdomTree, are actively applying to securities regulators for Bitcoin. ETFs for mainstream crypto assets such as Bitcoin and Ethereum. Cryptocurrency ETF products are highly recognized in many developed areas in the financial field such as Hong Kong, the United States, Singapore, Japan and South Korea. Established financial institutions have focused on mainstream cryptocurrency financial products, presumably because they have seen the huge potential of such products.

Even though the development of the encryption industry is booming, many people still have huge deviations and even prejudices in their understanding of the encryption industry. The root cause of this phenomenon lies in the information cocoon of the encryption industry in selective self-media and media reports. Such generalized information disclosure can easily mislead the public. The country is the hardest hit area by this situation. Some mainstream media reporters even bluntly stated that they would not report on the rise in cryptocurrency prices that benefited investors, but could only report on the collapse of cryptocurrency prices and liquidation.

So it is not difficult to understand that Sun Yuchen, as a representative industry figure in the encryption industry, is too deeply bound to the encryption industry itself, which has further caused some people who “do not know the truth” to have a negative attitude toward encryption. When the industry is biased and follows the trend of slander, it will also target industry figures such as Justin Sun, and generate a series of negative comments.

But the good side is that with Grayscale winning the lawsuit against the SEC and the series of favorable policies released by many regions, it has promoted the recovery of the market industry and is also providing benefits to the industry. Development injects confidence and promotes the industry to develop in a more mature direction, which helps the public have a new understanding of the encryption industry.

A recent owner of When a self-media account with few fans was hyping up the liquidation situation caused by cryptocurrency price fluctuations, an interesting scene appeared in the comment area. Many readers criticized the author for being blind, completely ignoring that the performance of mainstream cryptocurrencies during the same period significantly outperformed China's A-shares and domestic stocks. The fact of the property market. This shows that in China, more and more people are thinking independently about blockchain and cryptocurrency and are breaking through the information cocoon.

In fact, Justin Sun himself has always maintained a relatively optimistic attitude, and has expressed a positive attitude towards industry trends in speeches at industry summits many times, and his predictions for industry recovery have also once again It was confirmed.

Perseverance and hard work

Sun Yuchen’s own views and the external environment may be subjective factors, but an unavoidable fact is that the wave founded by Sun Yuchen TRON has survived five years of iterative elimination of the blockchain industry, which has been extremely rapid and brutal, and is still growing, with users all over the world.

Since 2017, several rounds of public chain trends have broken out in the encryption industry. From the beginning, major public chains rushed to advertise Ethereum in an attempt to become the leader of the public chain 2.0 era. In the past two years, including PolkaDot, A number of innovators, including Cosmos and Avalanche, are trying to redefine the public chain. However, with several rounds of bull and bear cycles, it seems that only TRON remains strong and continues to be active in the industry.

According to data from the DeFiLlama website, TRON currently occupies the second place among public chains in terms of asset pledge, second only to Ethereum. At the end of 2020, Ethereum accounted for 96% of the market share in this field. So far, it has dropped to 53.97%, with TRON’s share rising from 0.68% to 18.93%.

Image source: https://defillama.com/chains

Although TRON is less than Ethereum in terms of total funds, the transaction activity on the TRON chain is much better than that of Ethereum, according to a report released by Nansen, a well-known blockchain data and research service provider. , on October 22, TRON’s total transaction volume was 4.39 million, while Ethereum’s transaction volume was 980,000. In addition, according to TRONscan data, as of December 22, the total number of transactions on TRON's chain has exceeded 6.8 billion, the total number of independent addresses has exceeded 200 million, and TVL has exceeded 20 billion US dollars, which is far more than most on-chain transactions. ecology.

An important factor for TRON to achieve such achievements is that in the early days of TRON, Justin Sun was firmly optimistic about the development of the blockchain industry and was able to clearly judge industry trends and make forward-looking decisions. . In the early days of the development of the encryption industry, he believed that encryption innovation could bring new value to the Internet and the financial industry. The continuous progress of governments and Web2 business giants embracing cryptocurrency, encryption ETFs, and encryption payments are all confirming this. Early judgment on major trends.

In the industry, Justin Sun is always able to seize early opportunities in potential tracks and cutting-edge fields, and through layout, he builds the TRON ecosystem into a public chain, stable currency, wallet, exchange, DeFi, etc. It has a complete ecosystem within the company and continues to explore the metaverse, AI and other fields to stabilize its industry position in the long term.

Sun Yuchen also said when attending the Milken Institute Asia Summit: "If a comprehensive regulatory framework can be established, the encryption industry still has a lot of room for growth. At present, there may only be about 100 million encryption users, but if regulation It is clear that we can acquire 2-3 billion users in 3 to 5 years."

In this direction, Justin Sun is also actively trying, such as promoting TRON to become the national blockchain infrastructure designated by the Caribbean country Dominica, in-depth layout of the stable currency field and the RWA field. Establishing connections with the traditional world in a new way, and maintaining close cooperation with governments and regulatory agencies of various countries, and is expected to be the first to implement layout in policy-friendly areas, etc.

Not long ago, authoritative international media such as Bloomberg, Yahoo Finance, the Associated Press and the well-known French media Le Figaro rushed to report that Justin Sun won the title of "Crypto Entrepreneur of the Year" at the Blockchain Life 2023 Industry Summit in Dubai. , the news that TRON won the "Best Layer 1 of the Year" award. Justin Sun and his TRON are gaining more and more mainstream recognition.

The encryption industry is an area that iterates very quickly in terms of technology and narrative. In the short decade of the development of the encryption industry, the first batch of entrepreneurs in the industry have been able to continue to work hard and are still active in the industry for a long time. There are few survivors in the industry. Such Justin Sun and TRON obviously cannot be summarized and described simply as "liars" and "crazy". Scammers can only deceive for a short time, but they cannot succeed for so long. You can be crazy or lucky for a while, but you can't survive for a long time.

Justin Sun's long stay in the spotlight is more likely the result of not hiding it. He rarely hides his extreme pursuit, extreme ambition, and willingness to do whatever it takes to achieve his goals. These traits are often The true but dark path to success, and these qualities are often what people like him who have achieved extraordinary success in career and money try to hide. Perhaps for Sun Yuchen, the dividends and opportunities of the times are so huge, and success comes so quickly, that he does not need to cover up and hide his ambitions and paths.