Justin Sun says he’s ready to invest $5 billion to rescue struggling businesses

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 in this direction, both for centralized and decentralized finance (DeFi) projects.

https://cryptoast.fr/justin-sun-pret-invest-5-milliards-dollars-sauver-entreprises-difficulte/

Justin Sun ready to invest during the bear market

the bear marketa rather globally complicated period for the entire ecosystem, at least has the merit of allowing us to see who are the actors who are doing the best, and therefore which seem to be organized to last. A phenomenon whose contrast is amplified by the recent setbacks of the investment fund Three Arrows Capital (3AC), of Celsius or even of Travel Digital.

After Sam Bankman-FriedCEO of FTXwho indicated just a few days ago that he was holding ” a few billion available to help companies in difficulty, it is Justin Sunthe founder of Tron (TRX), who calls himself β€œ ready to serve “.

In an interview with our colleagues from The Block, Justin Sun said that ” a lot of companies had contacted him in order to obtain financial assistance. And it seems that the latter is ready to deploy funds in order to make acquisitions.

The spectrum of companies likely to interest Justin Sun and Tron would concern both centralized and decentralized finance projects (Challenge).

β€œOur interest is in platforms with a large user base. […] Both CeFi and DeFi platforms. Β»

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10-figure financial aid

Asked about the amount he would be willing to invest, Justin Sun talks aboutan amount of several billion dollars :

β€œWe are actively looking at this and seeing what we can do here. […] We are prepared to spend $5 billion to help builders in the industry continue to build. Β»

The funds which will thus probably be paid to the companies concerned would be made up both from Justin Sun’s personal wallet and from Tron’s. As for Tron, the latter hired an investment bank in order to be advised on potential investments that would prove to be interesting. The organization in question was not named following a non-disclosure agreement.

Finally, the founder of Tron clarified that he was only targeting companies β€œ healthy and that a process of due diligence would be conducted in order to rigorously select projects that may interest him.

This announcement directly echoes those of Binance, FTX or Nexocompanies that show themselves ready to invest massively and continue to recruit staff, where others see themselves in theobligation to dismiss or restrict their offer of services.

πŸ‘‰ Read also: Tether claims to have had a loan liquidated from Celsius without this impacting its reserves

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