Tron foundation was accused by Marques Brownlee, a popular YouTuber with over 13.5 million subscribers, of offering him compensation to promote the Tron ecosystem without any disclosure.
As Bitcoin leads the way of new price discovery in the crypto industry, competition among altcoins has scaled so high that celebrities are getting involved to promote them. Recently, the Tron Foundation has been accused of paying out social media celebrities to shill its coin and ecosystem. However, Justin Sun has come out to defend the Tron Foundation through his Twitter page.
There have been rumors lately of third party celebrities being paid to promote #TRON. #TRON Foundation is not involved in these activities. Nor is the foundation aware of the actors behind this.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) February 16, 2021
Public promotions are not illegal, furthermore, several social media celebrities have recently endorsed different cryptocurrencies openly including Elon Musk on Dogecoin. However, the Tron Foundation is being trolled for allegedly paying out celebrities to gain momentum, attract trading volume, and eventually result in a price rally.
Tron Foundation and the Celebrities Promotion Scandal
Tron (TRX) token was trading around $0.052715 at the time of writing according to metrics provided by CoinGecko. The asset is up approximately 75%, 60%, and 29% in the past one month, two weeks, and seven days respectively. Tron token has a market capitalization of $3,788,379,255 with its past 24-hour trading volume at $2,955,613,969. There are approximately 71,660,220,128 units of Tron (TRX) tokens in circulating supply out of the possible 100,850,743,812.
Tron ecosystem is similar to the Ethereum blockchain technology that offers a decentralized infrastructure for developers to use smart contracts. However, the former claims to offer higher throughput, higher scalability, and higher availability for all Decentralized Applications (DApps). Although the Ethereum ecosystem is ranked the top in the smart contract sector among the decentralized ecosystem, it is facing challenges of scalability and higher transaction fees, thus offering competitors a chance to thrive amid the ongoing global crypto adoption.
Tron foundation was accused by Marques Brownlee, a popular YouTuber with over 13.5 million subscribers, of offering him compensation to promote the Tron ecosystem without any disclosure. “So I get this email. So this one said they just wanted a tweet and that they already have participation from Lindsay Lohan, Amanda Cerny, NeYo, Lil Yachty, and more,” noted Brownlee.
He however noted that the email appeared sketchy despite mentioning popular artists and also linking their latest tweets about the Tron foundation. “But the more I read into this email, the more sketchy it is. They mention they’re often referred to as the ‘Ethereum killer’ – whatever you say – and that they need to make it look like it’s not a sponsored tweet,” said Brownlee.
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