Justin Sun Will Now Run Liberland: Cardano Founder Reacts

• Charles Hoskinson ridiculed the election of Justin Sun as Liberland’s Prime Minister.
• Tron meme coins crashed after the announcement of Liberland’s new PM.
• Crypto community discussed the potential surge in TRX adoption.

Charles Hoskinson, the founder of the Cardano blockchain, had a hilarious reaction on the news of Tron founder Justin Sun being elected as the Prime Minister of Liberland, a self-proclaimed micronation. Liberland, situated on the border of Croatia and Serbia, has approximately 800 citizens and covers around 1,700 acres.

Reacting on X (formerly Twitter), Hoskinson shared a 28-second clip of himself laughing, seemingly mocking Sun’s appointment as the Prime Minister of Liberland. Justin Sun recently left his active role in the Tron DAO to pursue political ambitions. He also served as the Permanent Representative of Grenada to the World Trade Organization (WTO) from 2021 to 2023.

The crypto community on X was lit up on Sun’s unexpected shift to politics, noting how far he has come since founding Tron. Users speculate this development could be bullish for the Tron ecosystem, as it might expand into international borders and micronations (read “Liberland”.) Sun’s new political role could also boost his political resume in the long run.

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And according to an official statement from Liberland, Justin Sun will serve alongside entrepreneur Evan Luthra, journalist Jillian Godsi, former Croatian politician Ivan Pernar, and IT professional Dorian Stern Vukotić, forming the micronation’s Congress.

SEC Charges Against Justin Sun

Meanwhile, the U.S. Securities and Exchange Commission (SEC) has accused Sun and entities related to Tron of fraudulently manipulating the secondary market for TRX, Tron’s native token. The SEC also charged Sun with selling unregistered securities in the U.S.

The United States Securities and Exchange Commission (SEC) accused Sun and related entities of fraudulently manipulating the secondary market for TRX, the native token of the Tron blockchain and also over the sale of unregistered securities in the country. 

Following the news of Sun’s election as Prime Minister, several Tron-based meme coins took a hit. According to Coingecko data, Sundog (SUNDOG) dropped 5.3% over the last 24 hours, trading at $0.2087. Tron Bull (BULL) decreased by 0.5%, landing at $0.08212. Invest Zone (IVFUN) slid by 2.9% to $0.007051, while Tron Bull Coin (TBULL) tumbled 7.9% to $0.006519.