The founder of TRON stresses the need for a strong banking infrastructure- Honorable Justin Sun tweeted about the potential damage prevailing in the financial sector, referring to the downfall of SVB.
- The founder of TRON added that it is essential to build a reliable bank.
- He added that he would help in any way and called on the cryptocurrency community to cooperate.
His Excellency Justin Sun, founder of the DAI blockchain ecosystem TRON and global advisor to international crypto exchange Huobi, shared a Twitter thread on March 12 highlighting the “potential harm” prevalent in the financial sector, referring to the debacle of commercial banking firm Silicon Valley Bank (SVB).
Earlier, on March 10, the California Department of Financial Protection and Innovation (DFPI) requested SVB to close due to some undisclosed reasons, which put many financial institutions and investors at risk.
Notably, Sun tweeted that recent incidents such as the sudden collapse of SVB Financial Group show the potential damage to many financial institutions:
Recent incidents such as the SVB situation highlight the potential harm to many in the industry. It’s time to build a reliable bank that can meet the needs of the cryptocurrency industry. As a supporter of this ecosystem, I am open to any idea that can help create such a bank.
— His Excellency Justin Sun 孙宇晨 (@justinsuntron) March 12, 2023
It is worth noting that he stressed the need to build a “trusted bank,” saying:
It’s time to build a reliable bank that can meet the needs of the cryptocurrency industry. As a supporter of this ecosystem, I am open to any idea that can help create such a bank.
In a subsequent tweet, the TRON founder shared his desire to collaborate with his friends to “provide funding, management, and operational support.” He added that a “strong banking infrastructure” that links traditional finance and new digital finance is necessary for “wider adoption of cryptocurrencies.”
Concluding his series of tweets, Sun called on the cryptocurrency community to commit to collective action towards a safer crypto industry, quoting:
Let’s work together to create a safe and orderly environment for the crypto industry and ensure that incidents like the SVB case don’t happen in the future.
Interestingly, the cryptocurrency community received his messages with a mix of opinions. Although there were many who supported him, and gave him ideas, there were those who made fun of him.
The published founder of TRON stresses the need for a robust banking infrastructure that first appeared in the issuance of the coin.
