A Bloomberg report has alleged that Justin Sun, the founder of Tron, controls more than 60% of all circulating TRX tokens, directly challenging the project's core mission of decentralization. The report, which claims to have sourced data from Sun's own team, highlights a significant contradiction for a blockchain marketed as a decentralized smart contract platform aimed at improving internet infrastructure.
Despite the serious allegations, the TRX price has shown little volatility in response, with investors adopting a wait-and-see approach. "The news doesn't seem to have shaken the market as expected," noted a cryptocurrency analyst. Social media reactions have been adverse but unsurprising, with some commentators referring to Sun as "the second-biggest market manipulator in the game."
Justin Sun is currently engaged in a legal battle against Bloomberg over the claims, but a recent court ruling did not favor him. This legal strife could force both parties to present evidence publicly, potentially bringing more transparency to the issue. Sun has faced previous controversies, including SEC investigations and wallet freezes, but this latest allegation raises deeper concerns about Tron's long-term credibility and trust among developers and investors.