Crypto Will Return to China, According to Tron CEO

The acquisition of Celcius assets and a future return to China following the global crackdown on the cryptocurrency industry were two topics covered in the most recent Bloomberg interview between Emily Chang and Justin Sun, CEO of Tron.

Given the status of most assets, which have reached their bottoms as a result of the unfavorable market conditions and the tightening of American monetary policy, Sun claims that this is one of the ideal times to get back into the cryptocurrency market.

China’s complex interaction with crypto

Despite being “anti-Bitcoin” and “anti-mining,” Sun thinks China will become kinder to cryptocurrencies. The co-founder of Tron, however, thinks that the negative perception of cryptocurrencies should be lessened before Central Bank Digital Currencies are introduced.

Most proponents of cryptocurrencies and decentralization, however, do not think CBDC will be secure to use, and they predict that nations like China will only utilize it as a substitute for conventional digital currencies.

Justin Sun joins Huobi

Sun said last week that he would be joining the advisory board of one of the largest centralized exchanges in the world. The Grenadan ambassador declared his intention to advance Huobi Token.

He previously disclosed that he has been actively accumulating Huobi’s utility token since its inception and that it makes up a sizable portion of his portfolio. A big 100% rally on HT was sparked by these two pieces of news and more buying, and it reached a local high of $8.

Active profit-taking resulted in a 10% pullback, but the reversal’s nature is strictly technical and it is still unclear if the rally on HT is complete or not.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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