Justin Sun, head of the TRON Foundation and developer of the TRON crypto asset, has been on a Twitter spree lately, going as far as teasing an upcoming partnership with a “mega corporation.” Sun, who is known for his ability to make grand announcements, took to Twitter on October 25 to announce that his company will be partnering with a “$100 billion mega corporation” next week. While he didn’t give specifics concerning the deal, he did argue that it would be beneficial to decentralized apps and tokens available on the TRX blockchain.
He said, “TRON will partner with a hundred billion USD megacorporation next week. It will not only benefit $TRX but all TRC10&20 tokens, including $BTT & $WIN, etc. It will broadly distribute TRON Dapps and tokens to billions of customers. TBA. Make a guess?” Considering how many companies have a market capitalization of at least $100 billion, it is anyone’s guess who these new partners will be.
The tweet is coming at a time when the cryptocurrency market is experiencing something of a boom. Bitcoin, as well as a wide array of other top crypto assets, have been trading wildly for a while. TRON hasn’t been left out of the party. At press time, the asset is trading at 0.82 percent higher on the day.
As for which company Sun was referring to, it is anyone’s guess. Some have gone ahead to tout the possibility of it being Samsung, as the Korean tech giant has been making some significant moves into the cryptocurrency and blockchain space. However, given that they are only worth about $17 billion, they seem to have failed the $100 billion litmus test that everyone is using to run potential candidates by. Regardless, we are set to find out who it is by next week.
TRX blockchain now houses USDT tokens
TRON is always in the news. Earlier this month, TRON Foundation posted a tweet revealing the TRX blockchain now holds up to 10 percent of all Tether (USDT) tokens available on the market.
— TRON Foundation (@Tronfoundation) October 25, 2019
The Tether stablecoin was launched earlier this year as a project on the TRX blockchain, and it has gone on to become one of the most popular stablecoin projects in the crypto market. However, as the recent tweet notes, the TRON blockchain now holds 450 million USDT tokens, thus making up for a tenth of the total supply.
— Paolo Ardoino (@paoloardoino) October 25, 2019
However, on the same day, crypto tracking service Whale Alert posted that it had discovered a transaction in which an additional 40.1 million tokens were minted by the Tether Treasury and transferred to the blockchain. Paolo Ardoino, the chief executive of crypto exchange Bitfinex, further explained that the transfer was the result of a chain swap, thus putting suspicion of any fraudulent transaction to bed.