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Tron brings the former SEC lawyer
Tron, a company led by Justin Sun, has undoubtedly had a good week. The strong performance of the company continued Wednesday.
According to a press release from the Tron Foundation, the world-famous startup blockchain has hired a lawyer for the Securities and Exchange Commission (SEC) of the United States, probably Crypto's best friend and the worst enemy simultaneously. The release, released on Wednesday, revealed that David Labhart, an "expert in the regulatory field," will now act as Tron's compliance officer, helping the newcomer to interact with global regulators, in particular from a cryptographic context and blockchain.
Sun explained that while the cryptocurrency industry continues to mature at a frantic pace, investors and regulatory bodies will need to trust Tron, as the boss noted that his organization has "a forward-looking and stable growth trajectory". We anticipate that your company's reports will "clash with regulatory requirements".
From there, Labhart will act as Tron's joint advisor, using his 15-year experience in the securities industry to benefit the cryptic society, which continues to grow in a broader encrypted market. The new hire expressed its excitement for its new stint, stating:
Joining TRON is the perfect progression in a career driven by the passion for the frontier of the financial sector; where technology meets regulation.
The new Tron executive added that he considers blockchain technologies and cryptocurrencies as the "next step" in the evolution of global finance, adding that he is excited to see what Justin has in store in the company, especially in terms of using this technology for the benefit of society.
TRX up to 50% in one week
This recent assumption comes after TRX, the project token has grown tremendously. According to data from Live Coin Watch, the asset, now the eighth cryptocurrency by market capitalization, increased by 50% in the last week, and rises more than 120% from the 2018 minimum. The TRX value it is currently valued at $ 0.0287 per piece, with a volume that continues to rise week by week.
Although many holders of the famous altcoin have welcomed the move, many have remained to wonder why the TRX has increased.
Potential catalysts for price increase:
- BitTorrent for Hit Binance Launchpad: Recently, Binance has relaunched its Launchpad program, which offers cryptographic companies a great platform to offer their internal tokens. BitTorrent, a peer-to-peer file that shares the upstart supported by Tron, has recently been revealed to have been accepted as Launchpad's first major project. BitTorrent will launch its BTT token and blockchain, which will work hand in hand with TRX.
- Tron Blockchain continues to overcome key milestones: For our previous reports, the Tronix blockchain has continued to exceed important milestones. The chain now facilitates 83 DApp. This statistic has increased by ~ 400% since the end of November, when the network was running about 20 applications. Sun also recently said that Tron-based contracts have been activated 100 million times.
- NiTron Looming Summit: The NiTron summit of Tron, which will be called this way, will take place on 17 and 18 January. Many optimists are confident that at the event, the startup will make a series of surprising announcements that should strengthen the ecosystem of their blockchain.
Title Image Courtesy of Artem Sapegin on Unsplash
