Tron Founder's Struggles Continue
Justin Sun, the founder of Tron, has faced multiple challenges recently. Following a lawsuit from the SEC for fraud and market manipulation, Sun lost his diplomatic status and has remained low-key.
US Government Plans to Sell Silk Road-Linked Bitcoin
New court documents have exposed the US government's intention to sell 41,500 bitcoin associated with the Silk Road. The sale is planned to occur in four separate batches throughout the year. In response, Sun has submitted an offer to the US government.
BREAKING: Justin Sun, founder of Tron, has offered to purchase all 41,500 Bitcoin held by the US Government at a 10% discount.
— Paryte (@Parytecom) March 31, 2023
Justin Sun's 10% Discount Offer for BTC Purchase
After learning about the government's bitcoin sale, Sun tweeted his desire to minimize the sale's potential market impact. He proposed purchasing the bitcoin at a 10% discount and suggested the transaction could be handled as an OTC deal. The sale of such a significant amount of bitcoin could influence market prices.
Previous US Government Bitcoin Sales
In the Ulbricht case, the US government seized 51,351.89 bitcoins. They previously sold 9,861 BTC through Coinbase on March 14, 2023. Given his ongoing legal issues, it is still being determined if the government will entertain Sun's proposal.
