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Tron (blockchain)
Tron (stylized as TRON) is a decentralized, proof-of-stake blockchain with smart contract functionality. The cryptocurrency native to the blockchain is known as Tronix (TRX). It was founded in March 2014 by Justin Sun and, since 2017, has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.
Tron was originally an Ethereum-based ERC-20 token, which switched protocol to its own blockchain in 2018. On some cryptocurrency wallets, users can't withdraw their funds until they have enough amount for the network fee.
Tron has been criticised for enabling organized crime, with The Wall Street Journal stating in 2025 that it is a "popular channel for crypto’s criminal fraternity to move funds" and responsible for "more than half of all illegal crypto activity" in 2024, with the United Nations Office on Drugs and Crime calling it a “preferred choice for crypto money launderers” in Asia.
Tron was founded by Justin Sun in 2017. The TRON Foundation was established in July 2017 in Singapore. The TRON Foundation raised $70 million in 2017 through an initial coin offering (ICO) shortly before China outlawed the digital tokens. The testnet, Blockchain Explorer, and Web Wallet were all launched by March 2018. TRON Mainnet launched shortly afterward in May 2018, marking the Odyssey 2.0 release as a technical milestone for TRON.[citation needed]
In June 2018, TRON switched its protocol from an ERC-20 token on top of Ethereum to an independent peer-to-peer network.[citation needed] On 25 July 2018, the TRON Foundation announced it had finished the acquisition of BitTorrent, a peer-to-peer file sharing service. Upon this acquisition, in August 2018, BitTorrent Founder Bram Cohen also disclosed that he was leaving the company to found a separate cryptocurrency, Chia.
By January 2019, TRON had a total market cap of about $1.6 bn. Despite this market performance, some authors viewed TRON as a typical case of the complex and disordered nature of cryptocurrencies. In February 2019, after being acquired by TRON Foundation, BitTorrent started its own token sale based on the TRON network.
In late 2021, Justin Sun resigned as CEO of the TRON Foundation, which was subsequently reorganized as a DAO.[citation needed]
In March 2023, Sun and Tron were sued by the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities related to the sale and promotion of Tronix (TRX) and BitTorrent (BBT) tokens; the SEC alleged that Sun and Tron had engaged in wash trading in the secondary market for TRX in order to buoy its price. $31 million of proceeds were generated through thousands of Tronix trades between two accounts Sun controlled. Eight celebrities, including Akon, Ne-Yo, Austin Mahone, Soulja Boy, Lindsay Lohan, Jake Paul and Lil Yachty, were charged with promoting these cryptocurrencies without disclosing that they were sponsored, with all those other than Soulja Boy, and Mahone settling with the FTC for more than $400,000, without admitting or denying the charges.
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Tron (blockchain)
Tron (stylized as TRON) is a decentralized, proof-of-stake blockchain with smart contract functionality. The cryptocurrency native to the blockchain is known as Tronix (TRX). It was founded in March 2014 by Justin Sun and, since 2017, has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.
Tron was originally an Ethereum-based ERC-20 token, which switched protocol to its own blockchain in 2018. On some cryptocurrency wallets, users can't withdraw their funds until they have enough amount for the network fee.
Tron has been criticised for enabling organized crime, with The Wall Street Journal stating in 2025 that it is a "popular channel for crypto’s criminal fraternity to move funds" and responsible for "more than half of all illegal crypto activity" in 2024, with the United Nations Office on Drugs and Crime calling it a “preferred choice for crypto money launderers” in Asia.
Tron was founded by Justin Sun in 2017. The TRON Foundation was established in July 2017 in Singapore. The TRON Foundation raised $70 million in 2017 through an initial coin offering (ICO) shortly before China outlawed the digital tokens. The testnet, Blockchain Explorer, and Web Wallet were all launched by March 2018. TRON Mainnet launched shortly afterward in May 2018, marking the Odyssey 2.0 release as a technical milestone for TRON.[citation needed]
In June 2018, TRON switched its protocol from an ERC-20 token on top of Ethereum to an independent peer-to-peer network.[citation needed] On 25 July 2018, the TRON Foundation announced it had finished the acquisition of BitTorrent, a peer-to-peer file sharing service. Upon this acquisition, in August 2018, BitTorrent Founder Bram Cohen also disclosed that he was leaving the company to found a separate cryptocurrency, Chia.
By January 2019, TRON had a total market cap of about $1.6 bn. Despite this market performance, some authors viewed TRON as a typical case of the complex and disordered nature of cryptocurrencies. In February 2019, after being acquired by TRON Foundation, BitTorrent started its own token sale based on the TRON network.
In late 2021, Justin Sun resigned as CEO of the TRON Foundation, which was subsequently reorganized as a DAO.[citation needed]
In March 2023, Sun and Tron were sued by the U.S. Securities and Exchange Commission (SEC) for selling unregistered securities related to the sale and promotion of Tronix (TRX) and BitTorrent (BBT) tokens; the SEC alleged that Sun and Tron had engaged in wash trading in the secondary market for TRX in order to buoy its price. $31 million of proceeds were generated through thousands of Tronix trades between two accounts Sun controlled. Eight celebrities, including Akon, Ne-Yo, Austin Mahone, Soulja Boy, Lindsay Lohan, Jake Paul and Lil Yachty, were charged with promoting these cryptocurrencies without disclosing that they were sponsored, with all those other than Soulja Boy, and Mahone settling with the FTC for more than $400,000, without admitting or denying the charges.