Following in the footsteps of Sam Bankman-Fried, Changpeng Zhao or the Nexo company, 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, both for centralized and decentralized finance projects (DeFi).
Justin Sun ready to invest during the 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 ones seem to be organized to last. The contrast 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” available to help companies in difficulty, it is Justin Sun, the founder of Tron (TRX), who says he is “ready to serve”.
In an interview, Justin Sun said that “a lot” of companies have contacted him for financial help. And it seems that he is ready to deploy funds to make acquisitions.
The spectrum of companies that Justin Sun and Tron might be interested in would include both centralized and decentralized finance (DeFi) projects.
“Our interest is in platforms with a large user base. […] Both CeFi and DeFi platforms.”
Billions in financial support
When asked about the amount he would be willing to invest, Justin Sun talks about a multi-billion dollar figure:
“We are actively looking at this and seeing what we can do here. […] We’re willing to spend $5 billion to help builders in the industry continue to build.”
The funds that are likely to go to the companies involved in this way would come from both Justin Sun’s personal portfolio and Tron’s. As far as Tron is concerned, the latter would have hired an investment bank to advise on potential investments that would prove interesting. The organization in question has not been cited due to a non-disclosure agreement.
Finally, the founder of Tron specified 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 heavily and continue to recruit staff, while others are forced to lay off staff or restrict their service offering.
