Weiss Ratings Urges Justin Sun to Return $2M Grant

Weiss Ratings Urges Justin Sun to Return $2M Grant

Weiss Ratings, the world’s leading financial research firm, has recently urged Justin Sun, the founder and CEO of Tron (TRX), to return the $2 million grant obtained from the U.S. government.

The rating agency indicated on its Twitter account that the stimulus loan is for small businesses to overcome the current economic crisis caused by the coronavirus pandemic.

It is worth mentioning that Tron (TRX) has obtained a $2 million grant from the U.S. government for salary protection, the Herald Sheets website earlier reported.

Thus, Weiss confirmed that Tron is not one of the small businesses impacted by the current economic crisis.

As a result, the rating agency has urged Sun to return the stimulus loan so that small business can benefit from it.

On its Twitter account, Weiss stated:

“Justin Sun received a $2 million coronavirus stimulus loan from the U.S. government. Government created the Paycheck Protection Program to help small businesses survive the economic crisis. Justin, seriously, how low can you go? Return the loan – you don’t need the funding.”

Commenting on the move, Matthew Graham, CEO of Sino Global Capital, said:

“If you are wondering why Justin would want this publicized in China, many people will misinterpret this as some kind of implicit endorsement of Tron from the United States government. From standpoint of completely unethical grifter, a savvy move.”

Tron expands business

Tron Foundation earlier announced that the application built using its blockchain will be available on Samsung Galaxy Store.

The move allows users of Samsung smartphones in the U.S. and Europe to download Tron’s DApps.

It is worth mentioning that Tron and its TRX cryptocurrency were already backed by Samsung’s Blockchain Keystore.

Justin Sun, founder of TRON, said:

“We really enjoyed working with Samsung on the blockchain level integration. Now with Samsung Galaxy Store, we are taking our collaboration to the next level by integrating both ecosystems together.”

“This is an incredible opportunity for developers to migrate and build on the TRON platform and put their applications in front of Samsung users,” he added.

The partnership would boost the adoption of TRON blockchain technologies.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.