'Elon Musk Is Going to Be the Next Justin Sun,' Jokes Justin Sun

In all seriousness, the TRON founder says he's "grateful" to Tesla's CEO for bringing people into crypto.

AccessTimeIconMay 25, 2021 at 2:42 a.m. UTC
Updated May 29, 2023 at 12:07 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

You could say Justin Sun likes attention. But not necessarily in the way you might think.

The founder of Tron – a low-fee network designed to facilitate peer-to-peer sharing of digital content – recognizes the value of celebrity attention in the crypto space. Sun made his comments at Consensus 2021, CoinDesk’s annual conference that assembles experts and influencers from the crypto industry, global finance and more.

“Every celebrity, when they get into crypto, will become controversial,” he told CoinDesk's Muyao Shen in an interview. “This is inevitable. The only difference I think here is how we use this kind of influence or controversy to bring crypto to mass adoption.”

“Today, I am grateful for Elon Musk bringing a lot of people into crypto, bringing all the media and the big companies attention to crypto.”

Sun's comments about Musk were in response to a question about whether Sun felt the crypto community still considered him a "bad boy." Sun appeared quite willing to have that mantle taken up by Musk, saying he was amused that a meme declaring "Elon Musk Is Going to Be the Next Justin Sun" got over 1,000 likes.

Sun is no stranger to controversy, and neither is Musk. The Tesla CEO has recently taken heat from the global crypto community for his announcement that Tesla would stop accepting bitcoin payments because of the cryptocurrency’s energy footprint, which left many blaming him for a 40% sell-off in the crypto markets.

Despite his gratitude, Sun did boast that the Tron blockchain hosts more transaction volume than PayPal, Musk’s former company.

“Our daily transaction volume is around, like, $10 billion. Even [for] PayPal, this number is around $2 billion. So we are doing five times [that].”

Although his focus remains on Tron, Sun acknowledged the value of increasing density in the crypto space. 

“I believe the competition in the industry breeds perfection. So we need different blockchains to compete with each other. We have to generate ideas... and find out basically the right path for the industry.”

consensus-with-dates

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.