Justin Sun holds more than 60% of the total supply of Tron (TRX): Bloomberg

A new report suggests that Justin Sun is holding over 60% of the total Tron token supply (TRX). This raises significant questions about the level of decentralization of the project, which has been marketed as aiming to democratize the Internet through blockchain smart contracts.

Justin Sun and allegations of centralization of power

Bloomberg cited sources reportedly from Sun's own team, confirming that the founder controls the majority of the TRX supply. If this information is accurate, the Tron community will face a major shock, as it cannot be considered decentralized when one individual owns more than half of the circulating tokens.

Meanwhile, the price of TRX has not reacted strongly to this rumor, despite fluctuating throughout the week.

Continuous legal troubles

Justin Sun is currently embroiled in a lawsuit related to allegations about Tron, but the court dismissed his legal efforts this week. Previously, Sun had sued various media outlets multiple times for unfavorable reporting, but all results were unsuccessful. If he continues to pursue the defamation lawsuit against Bloomberg, both parties will be forced to disclose evidence.

Notably, last month, Sun was also embroiled in controversy when he was accused of offering to invest in WLFI after this project froze his wallet. He also escaped an SEC investigation during President Donald Trump's term following large-scale transactions related to WLFI.

Community reaction and TRX outlook

Although this news has attracted attention, the reaction on social media has been rather “indifferent”. Many cryptocurrency analysts sarcastically refer to Sun as the “second biggest market manipulator”, instead of showing surprise or outrage.

However, in the long term, an individual being accused of holding a large portion of the supply could seriously damage the reputation and value of Tron. The question is: with another round of negative media frenzy, will it change the community's trust in this project?

Thạch Sanh