TRON (TRX) Founder and CEO Demonstrates His Support for Net Neutrality

Siamak Masnavi

On Thursday (1 November 2018), Justin Sun, the founder and CEO of TRON Foundation, announced his support for net neutrality, and demonstrated this support with a $10,000 pledge to, a crowdfunding effort by the non-profit organization "Fight for the Future", which was founded in 2011 with the mission of ensuring "that the web continues to hold freedom of expression and creativity at its core." The goal of this organization is "to build tech-enhanced campaigns that resonate with millions of people, enabling them to consolidate their power and win historic changes thought to be impossible."

Net neutrality "is the principle that Internet service providers treat all data on the Internet equally, and not discriminate or charge differently by user, content, website, platform, application, type of attached equipment, or method of communication."

Fight for the Future's latest campaign is about putting pressure on the U.S. Congress to save net neutrality -- which was killed on 11 June 2018 following a vote by the Federal Communications Commission (FCC) in December 2017 -- by passing legislation that would "effectively force the FCC to bring back the rules the FCC approved in 2015." Under the Congressional Review Act (CRA), "Congress, with the approval of the president, can not only reject regulations issued by a federal agency but effectively bar that agency from taking similar action again."

The website says that although the Senate has already passed a resolution, "now the House is running out of time to do the same." It further says that the money being raised will be used to the following:

  • "Flood Congress with phone calls, tweets, and emails"
  • "Run crowdfunded billboards, newspaper ads, and online ads"
  • "Organize in-district actions and events"

Here is how Justin announced his support for this campaign on Twitter:

The press release by the TRON Foundation says that Justin's $10,000 donation will "help fund efforts to educate voters in key districts across the country to vote pro-net neutrality and support lawmakers to reverse the decision that ended net neutrality." This donation comes shortly after TRON's "initial pledge of $3M to the Blockchain Charity Foundation headed by Binance."

The press release also contained the following quote from Justin:

"Given my deep belief in an open and decentralized internet, I support and urge others to do the same in this critical moment where Congress can still act in favor of net neutrality. When the internet is free and open, it fosters innovation that benefits not just a few, but all of us. It's our responsibility to protect these core values and push our community towards the cause."

Justin, who is also the CEO of BitTorrent, apparently "plans to energize support from the BitTorrent community of over 100M users." BitTorrent "has a long-standing history of supporting net neutrality and also and through campaigns that have urged tens of millions of users to get involved."

Featured Image Courtesy of the TRON Foundation

Justin Sun Announces 'Big Win' Announcement, Helping BTT and TRX Surge

BitTorrent’s token (BTT) and TRON’s TRX have both recently seen their prices rise after Justin Sun announced a “big win for the blockchain community” is going to be announced on June 3, likely helping speculators invest in the cryptocurrencies.

This is notably not the first time Justin Sun announced an announcement on social media to his over 1 million followers. Earlier this week, he claimed something “huge and amazing” could soon be shared with them, although he noted he had a “70% chance to win and nail it.”

In his new announcement of an upcoming announcement, he revealed he “did it,” and it was a “big win” for the community, and detailed the announcement was coming on June 3.

Some believe the upcoming announcement initially referred to the release of the BitTorrent File System (BTFS) protocol, that’s set to allow users to “receive and host storage and their computers with other individuals and businesses.”

Although it isn’t yet clear what Sun is planning to announce, his tweets have influenced the market, as the value of both TRX and BTT surged shortly after he posted them.

TRX, BTT Surge thanks to Justin Sun’s Tweets

Currently, according to CryptoCompare data, the price of TRX is up by 13% in the last 24-hour period, as each token is trading at $0.04. In the last 30 days, the cryptocurrency’s price went up by nearly 65%, and its trading volume has accompanied it.

TRX's price erformance in the last 30 days

BitTorrent’s BTT token, on the other hand, only rose by 4.2%, with each token trading at $0.00169. In the last 30 days it’s up by a whopping 153%, and the recent rise came after a dip to $0.0015, which could mean Justin Sun’s tweet coincided with a recovery.

As some analysts have claimed, BTT’s drop is expected as according to a Medium post from BitTorrent, the piracy-focused token is being distributed to TRX holders, with an airdrop that’s totaling 1.2% of its supply, 11.88 billion tokens, being rolled out this year.

This could add selling pressure to the price of BTT, as some users are likely going to sell their token as soon they get them. Moreover a recent announcement from Opera revealing it’s set to add support for the TRON blockchain and multiple others on its built-in cryptocurrency wallet is likely also aiding the tokens.

BTT is a TRC-10 token based on the TRON network, launched after its acquisition of BitTorrent was confirmed. Likely supporting the price’s rise could be the addition of new decentralized applications this week, that brought the network’s total to 447 according to a TRON weekly update.