On May 31, Tether (USDT) tokens were released on the Tron blockchain receipt Another all-time high of $46 billion, compared to $36.8 billion for Ethereum, which represents more than 60% of the circulating supply of USDT. This achievement comes on the fifth anniversary of the launch of the Tron mainnet.
Over the past five years, Tron developers claim that the blockchain has processed 5.6 billion transactions and currently has a total locked value of $5.7 billion. Tron creator Justin Sun said his goals for 2023 include taking the market cap of stablecoins on the network to $100 billion and establishing Tron as a preferred choice for stablecoin users by positioning itself as an “affordable and easy-to-use version of Ethereum.” Tron developers also said they “promised full support” for Web3 development in Hong Kong.
Cointelegraph reported that the Hong Kong Securities and Futures Commission will start issuing cryptocurrency exchange license applications for retail trading on June 1. A few days ago, Huobi, a cryptocurrency exchange under Sun’s de facto ownership, said it had started offering cryptocurrency services to retail. Hong Kong customers after placing the order on the same day. In April, Son attended the annual Web3 Festival in Hong Kong, dispelling rumors that he had been arrested upon his arrival.
In March 2023, the U.S. Securities and Exchange Commission filed a civil lawsuit against Sun for “regulating the unregistered offering and sale, trading manipulation, and illegal promotion of crypto-asset securities” related to Tron (TRX) and BitTorrent (BTT) tokens. The lawsuit is currently ongoing.
Saga: Bitcoin glory on Chinese TikTok, 30m users in mainland Justin Sun saga: Asia Express
