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TRON Founder Backed Poloniex Could Be Merging With Huobi; Details

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TRON founder Justin Sun’s backed Poloniex exchange would merge with the recently acquired Huobi exchange as personnel from both parties have already begun to integrate.

The trading platform has been reportedly bought by Sun from Circle in 2019, WuBlockchain disclosed citing anonymous sources. The latest collaboration might be a part of an expansion drive carefully orchestrated by the TRON founder.

As reported by TronWeekly, Sun who is a global advisor in his other firm Huobi has laid out three strategies to enhance its position as the market leader and rise to the top among other major players in the sector.

The Seychelles-based cryptocurrency exchange recently rebranded its name from “Huobi Global” to “Huobi” via a press statement.

The new name is made up of two Chinese characters, the first of which stands for eternal energy and the second of which expresses the will to triumph.

As part of a new roadmap for international expansion, Huobi will be ramping up its investments in South-East Asia, Europe, and other regions.

Sun further hinted that the country could set up shop in the Dominican Republic where TRON blockchain partnered with the Caribbean island state to issue a national digital currency, the DMC token, as legal tender.

With regards to Poloniex, its merger with Huobi will widen its customer base as its daily spot trading volume is only 1/10 of that of Huobi, per Coingecko.

While there have been no official comments from any of the exchanges, Sun responded that the Poloniex network brand will continue to exist.

TRON Founder Teased A Possible Collaboration With BNB chain

Just the other day, the exchange suspended BSC stablecoins without providing the reason for the abrupt announcement.

Furthermore, the team urged users to use the ERC20 and TRC20 networks for stablecoin deposits and withdrawals and would be offering equivalent multichain solutions for the different stablecoins.

On 25 Nov, Sun teased a possible collaboration with the BNB chain without specifying more. “I fully support the BNBCHAIN ecosystem and BUSD. Actually, we will have a big partnership announcement soon.”

In an earlier tweet, Sun notified the community of the arrival of a new BEP-20 TRX token on the BNB Blockchain.

But owing to continuing upgrades in Tron, DEX PancakeSwap delayed the rollout of the Tron syrup/pool These stake pools would enable users in staking CAKE and gain TRX.

Tron’s Justin Sun Applies to Contribute to Binance Recovery Fund

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Justin Sun, the billionaire founder of Tron DAO and a blockchain operator, has submitted an application to contribute money to Binance’s industry recovery fund.

On November 14, CZ made the first mention of the industry recovery fund. The CEO of Binance also said that more information will be released soon. Binance provided the information as promised in one of its most recent announcements.

The “Industry Recovery Initiative” (IRI), the name of the recovery fund, aims to support web3’s future. The IRI is not an investment fund, as stated in the announcement. The IRI will initially receive $1 billion from CZ’s exchange. In reality, though, $2 billion is where the money is headed in the near future.

Tron’s Justin Sun applies to be a part of the recovery fund

The entrants who have contributed about $50 million to the fund are identified by the announcement’s specifics. Animoca Brands, GSR, Kronos, Jump Crypto, Polygon Ventures, Aptos Labs, and Brooker Group are a few of these businesses. For the sake of transparency, the public is also informed about the public address with the $1 billion fund.

“We were not aware of the announcement. Different players likely contacted Binance at different times. We have already applied to join this funding initiative and will hear back from them soon.”

 Justin Sun’s Tron DAO spokesperson told The Block

Justin Sun’s assistance will also help in boosting the fund. Binance hopes that the fund will help lessen some of the harm that Sam Bankman-Fried’s collapse of his empire of cryptocurrency businesses, which included the FTX exchange, caused to the sector. The collapse of FTX has impacted a wide range of companies in the sector, including early-stage DeFi projects and investment firms.

By design, blockchain analytics can be used to track contributions to the industry recovery fund. The fund will focus on initiatives that are thought to be innovative and economically viable but are having trouble getting funding because of the FTX crisis.

Binance’s fund comes as a last resort and a ray of hope for several potential projects. These projects have vested their trust in FTX and were brought down by the collapse of the exchange.

TRON Founder Is Keeping “All Options” Open With FTX

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Justin Sun, founder of the TRON blockchain revealed that he is open to “any kind of deal”  and “all options” are on the table with regard to the fallout of the once-dominant FTX led by Sam Bankman-Fried.

In an interview, Sun stated that representatives from Tron and the Huobi exchange are examining the platform’s assets with the intention of buying and are in talks with the FTX Group in the Bahamas.

“Right now we are evaluating assets one by one, but as far as I understand the process is going to be long since they are already in this kind of bankruptcy procedure,” he added.

After Binance backed out of an acquisition deal citing funds misappropriation, Sun, a crypto entrepreneur emerged as a savior by extending a helping hand to the beleaguered crypto exchange

Initially, Sun announced that they were working with the FTX team to allow withdrawals and trading for tokens related to him. Several crypto assets related to Justin Sun, include Tron (TRX), Just (JST), Sun (SUN), BitTorrent Token (BTT), and Huobi Token (HT).

Following FTX’s filing for bankruptcy, Bankman-Fried stepped down as CEO of FTX on Nov. 11. Still, SBF continued tweeting multiple threads speaking about the debacle.

This prompted the new CEO John Ray III to distance himself from Bankman-Fried saying his views do not represent the firm as he no longer works there.

TRON Founder Said FTX’s Fiasco Would Leave A Footprint

However as the dust began to settle down, SBF’s tweets mellowed down. Recently, the former CEO issued apologies to the FTX employees saying he felt “deeply sorry about what happened” and that he “froze up in the face of pressure.”

“As we frantically put everything together, it became clear that the position was larger than its display on admin/users, because of old fiat deposits before FTX had bank accounts,” he said. “I did not realize the full extent of the margin position, nor did I realize the magnitude of the risk posed by a hyper-correlated crash.”

The founder of TRON, on the other hand, claimed that mistakes committed by Bankman-Fried will damage cryptocurrency in the eyes of regulators, institutional investors, and other parties.

The collapse of SBF, according to Sun, “will leave a very negative impression on mainstream American society about the cryptocurrency industry.”

Before FTX sought bankruptcy protection, Sun and Tron held discussions with FTX regarding how to safeguard owners of Tron tokens.

TRON Founder Pushes Nayib Bukele’s Plan To Buy Bitcoin Daily

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Founder of TRON blockchain Justin Sun echoed El Salvador President Nayib Buklele’s plan to purchase Bitcoin every day. The developments would infuse hope into the crypto industry, which has been plagued by the FUD bug.

Many prominent figures, like DOGE supporter Elon Musk, former whistleblower turned crypto advocate Edward Snowden, and trading analysts like Stockmoney Lizards, are now bullish on the biggest cryptocurrency.

Sun for one, emerged as the new savior in the ongoing FTX collapse after Binance’s snub when the crypto entrepreneur announced on Twitter he was looking at ways to bail out FTX.

Though he didn’t share the complete details, he wrote that he and his team were “putting together a solution together with FTX to initiate a pathway forward.”

The TRON founder asserted that he intervened to “avert further deterioration” in the cryptocurrency business and as a promise to TRON community members.

Even though Sun is well-known for his significant crypto holdings and somewhat controversial initiatives, many in the community were surprised by his declaration considering the seriousness of the accusations made against FTX.

Sun’s Tron DAO Reserve, a community-driven body that supports development on the Tron network, has bought millions in Bitcoin [BTC], Tron’s native token TRX, and tether [USDT] as collateral for its dollar-pegged stablecoin USDD.

On the other hand, Bukele who is a Bitcoin maximalist has led the Central American nation to adopt BTC as a legal tender, making it the first in the world to do so.

TRON Founder And Nayib Bukele Vouch For BTC

Bukele cited the most recent FTX fall to highlight why Bitcoin is distinct from other currencies, despite the criticism he previously faced for buying the asset at these times.

“FTX is the opposite of Bitcoin,” said President Bukele as he described the underlying workings of the Bitcoin protocol. The white paper highlights the importance of an immutable peer-to-peer network in achieving a trustless financial system.

The Bitcoin strongman singled out FTX CEO Sam Bankman-Fried and financial criminal Bernie Madoff, pointing out how the Bitcoin protocol stops such bad actors from committing financial crimes.

“Some understand it, some not yet. We’re still early.”

Additionally, he emphasized that bitcoin has a 21 million market cap limit, making it a genuinely unique asset to acquire globally. His comments drew praise from BTC supporters.

 Essential Things Others May Not Tell You about the Best TRON Casinos

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Cryptocurrencies were introduced with the logic of making payments quicker and much easier. Their advent has significantly impacted many industries, shareholders, investors, and consumers. Gambling is one of the leading industries reaping big from technology, and its future is bright. 

One crypto that has stood out since its establishment is TRON (TRX). It’s remarkable as a decentralized autonomous organization with its community and focuses on creating a more decentralized internet. Well, this is why it is the go-to option for many gambling enthusiasts worldwide. 

With many decentralized casinos gaining popularity, the majority have introduced TRON to their vast following. It’s no longer a hassle to find the best tron casinos at dappGambl. Because TRON has become a genuinely great crypto, it should stress you to find a casino that uses the coin. 

Continue reading to learn more.

Choosing the Best TRON Casinos- An Ultimate Guide

Some gamblers will even spend a fortune to find the best TRON casino. But why stress when a look at a few merits of a Tronix/TRX casino will motivate your desire? The privacy, fast transactions, anonymity, and big bonuses TRX guarantees will inspire your decisions. 

In light of this, here are the best TRON casinos:

1XBit

A lot of facets will influence your decision to play at IxBit casino. You’ll get excited knowing that the casino offers a thrilling gaming experience. It is the home of a wide variety of online casino games. 

Sports betting, esports, and live casino fans will have a great platform to wager and win big. Further, the platform guarantees customers exciting promotions and bonuses. A welcome bonus is a chief attraction, especially for new players visiting a TRON casino for the first time. 

You can imagine getting a 7 BTC welcome bonus to wager on a sport you understand or love. It’s satisfying. Some of the popular cryptocurrencies that 1xBit accepts include:

  • Bitcoin
  • Ethereum
  • Monero
  • Litecoin 
  • Dash 
  • Tether 
  • Dogecoin
  • Chainlink 
  • Ripple 

BitStarz Casino 

If you are ready to become a gambling star, make BitStarz Casino your favorite destination. Since its establishment in 2014, the casino has become the home of thousands of casino games, and you shouldn’t have any reservations about playing live casino.

Payments methods help determine how effective a casino will fair. No player wants to lose money fraudulently or not get compensated after wins. BitStarz also accepts crypto, such as BTC, DOGE, ETH, LTC, and USDT. A visit to BitStarz Casino is meaningful and rewarding as it is a safe, legitimate, and secure platform for all. 

Stake Casino

Stake Casino is an excellent gambling platform that ranks TRON as its top crypto solution. The casino offers outstanding games you should be eager to explore. 

Besides TRX, Stake accepts cryptos such as Ethereum, Dogecoin, Bitcoin, Tether, Litecoin, Binance Coin, and XRP, among others. Further, the casino gets an edge over competitors as it offers bonuses, cashback promotions, and VIP perks. 

Duelbits Casino 

Don’t hesitate to sign up for the newest TRON casino and take your gambling experience a notch higher. Duelbits is the best home for TRX gamblers eager to explore many opportunities that come their way. 

The platform guarantees matchless customer care, legitimate services, and outstanding payment options. New players can pursue a no-deposit bonus upon a successful referral, among other promotions. 

Available games are developed by experts like NetEnt, Wazdan, and Microgaming. Payment options also include Ethereum, Bitcoin, and Litecoin.

FortuneJack

FortuneJack is famous for offering a 6 Bitcoin deposit bonus that the casino pays in Tronix plus 250 free spins promotion. It’s a licensed casino that offers a wide variety of popular games, easy navigation, and payment options.

To Sum Up 

If you are an avid online casino player, picking the best TRON casino shouldn’t be daunting. Unfortunately, a novice in the gambling world may find the whole experience challenging. The good news? There are incredible factors to consider when picking a top casino that gives TRX a top priority as the best cryptocurrency in the industry. If stuck, it is wise to research extensively and learn from other players and experts in the field.

Tron continues its rodeo as market excitedly calls for new updates

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Over the past couple of days, the cryptocurrency market has seen a divisive shift in the sentiments with a lot of users jumping on the digital asset bandwagon. It is not just Bitcoin that was on a bull tear as altcoins such as Ethereum, XRP and Tron also enjoyed their time in the sun. 

Justin Sun’s Tron, having been in the shadows for some time, has begun to wave in the digital asset industry. The price of Tron was not the only factor that emerged, as a number of personalities also started their buzz around the popular cryptocurrency.

The new year began with a number of positive updates from across the industry, with major players doubling down the wave. Justin Sun had also recently talked to Bloomberg about the age of memecoins and how it could act as a stepping stone to further developments.Tron also changed their energy and bandwidth spectrum from 40SUN to 140SUN. This came after the Tron Foundation approved the No.51 request to vote for the blockchain.

At press time, Tron traded for $0.056 after a 62.93 per cent increase in value over the previous week. The 20th-ranked cryptocurrency held a market cap of $3.9 billion and a 24-hour trading volume of $4.47 billion. Cryptocurrency fans expect BSV to overtake in terms of a market cap of $4.13 billion.

The hype around Tron has reached such a crescendo that even mainstream stars like Lindsey Lohan have begun to talk about it. On February 11, Lindsey Lohan tweeted about Tron and its features, betting on a bright future. The Hollywood star said the following:

“Exploring #DeFi and already liking $JST, $SUN on $TRX. Super fast and 0 fee. Good job @justinsuntron”

Tron has positioned itself as a competitor of Ethereum with the sole aim of improving the trading ecosystem. The first major resistance level of Tron broke at $0.052 at an intraday low of $0.04112. Right now, analysts expect Tron to test the resistance at $0.055 before any price drawdown occurs. Only time will tell if the price swing is still going the bull’s way.