Following in the footsteps of Sam Bankman-Fried, Changpeng Zhao or the company Nexo, it is Justin Sun who says he is ready to invest massively in certain companies in difficulty. Thus, the founder of Tron (TRX) could commit up to 5 billion dollars in this direction, for both centralized and decentralized finance projects (DeFi).
Justin Sun ready to invest during bear market
The bear market, a rather complicated period for the whole ecosystem, has at least the merit of allowing us to see which players are doing the best, and therefore which seem to be organised in such a way as to last. The contrast between these two phenomena is amplified by the recent setbacks of the investment fund Three Arrows Capital (3AC), Celsius and Voyager Digital.
After Sam Bankman-Fried, the CEO of FTX, who indicated just a few days ago that he had “a few billion” at his disposal to help companies in difficulty, it is Justin Sun, the founder of Tron (TRX), who says he is “ready to serve”.
We are friends with everyone and are always ready to serve. https://t.co/WBXwG5GDqL
– H.E. Justin Sun (@justinsuntron) July 8, 2022
In an interview with The Block, Justin Sun said that “a lot” of companies have contacted him for financial help. And it would appear that he is ready to deploy funds to make acquisitions.
The spectrum of companies that Justin Sun and Tron would be interested in would include both centralised and decentralised finance (DeFi) projects.
Our interest is in platforms with a large user base. […] Both CeFi and DeFi platforms. “
10-figure funding
When asked how much he would be willing to invest, Justin Sun talks about billions of dollars:
We’re actively looking at that and seeing what we can do here. [We’re prepared to spend $5 billion to help the industry continue to build. “
The funds that will likely go to the companies involved would come from both Justin Sun’s personal portfolio and Tron’s. As far as Tron is concerned, the latter is said to have hired an investment bank to advise on potential investments that might prove interesting. The organisation in question was not named due to a non-disclosure agreement.
Finally, the Tron founder said that he would only target “sound” companies and that a due diligence process would be conducted to rigorously select projects that might interest him.
This announcement directly echoes those of Binance, FTX or Nexo, companies that are ready to invest massively and continue to recruit staff, while others are forced to lay off staff or restrict their services.
