“Stay Away From Tron”; TRX May Be A Security – A SEC Insider Reportedly Tells ChaChing Wallet CEO, Thomas Schulz
Just recently, the controversial Craig Wright, a man who brought extremely important contributions to the development of crypto and the overall blockchain tech, slammed Ripple and Tron fans pretty hard.
After referring at XRP on Twitter as a “retarded project”, he also came after the Tron community, offending its members.
Wright doesn’t necessarily make these accusations in a constructive way and he’s already become popular due to his not-too-elegant manner of shading various crypto projects.
Thomas Schulz comes after Tron
Now, just after the successful BTT token sale co-founder and CEO of ChaChing wallet, Thomas Schulz, also comes after Tron but not in such a violent manner.
He claimed that he had been warned by a SEC insider to stay away from the Tron project, NewsBTC reports.
The online publication claims that the latest rumors are slamming TRX as a security and this might mean that the SEC is preparing to “crackdown on TRX holders, the Tron Foundation and specifically Justin Sun”
Schulz doubts the future of Tron and he cites advice from reliable sources as you can see in his tweets.
Tron is running a viscous marketing campaign to get tons of people to buy their cryptocurrency
The influence is on their behalf & thus holds them liable
Justin Sun has absolutely zero chill with reporting on where Tron sits on CMC
This isn’t the sign of a fruitful project
— Tom (@ThomasSchuIz) January 29, 2019
TRX a security?
He argues that TRX is a security and he says that the SEC insider told him to stay away from this project.
As expected the Tronb community was there to defend their favorite crypto and its leader, Justin Sun.
The Tron community defends Justin Sun’s project
Tron is defended by the community and one member has recently revealed something that’s worth taking into consideration.
The Tron supporter Crypto_Tone1 believes that Tron is the best example of what Satoshi meant by value and BTT is the fulfillment of the man’s vision.
Satoshi’s vision – coins trading within a very large network like BitTorrent. Those were his words 11 years ago. $TRX & $BTT will trade within that network which happens to be owned by #TRON . How could one still be a hater of TRON lol pic.twitter.com/95dY504OSP
— ₿ « ℂЯɎ₱𝐭Ø Ƭ🅾𝐍ê̸̡̥͍̗̟̘̱̤̿̉̓͋͝ (@Crypto_Tone1) January 27, 2019
Tron is doing is basically tokenizing one of the largest software in the world, BitTorrent.
Last year, Tron’s founder and CEO Justin Sun bought BitTorrent.
“BitTorrent has been around since 2003. This is a very successful P2P network responsible for P2P file sharing. At the same time, it has more than 100 million active users around the world – basically, monthly active users,” Sun said.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.