On the 12th of October, Justin Sun, Founder of TRON, hinted on Twitter that TRON was about to partner with a billion dollar company. While Sun did not disclose which company TRON was about to partner with, many TRON believers on Twitter got hit by yet another “TRON-mania”.
Last week, the Tron Founder and CEO played a classic game of “guess the new industry partner worth billions of dollars”, most probably to create a new TRON hype and to increase the price of TRX. While many TRON fans went absolutely crazy after the tweet, talking about a potential partnership with Amazon or Alibaba, there was also some skepticism amongst TRON followers.
For instance, a certain Crypto Kevin responded to Justin Sun on Twitter saying;
Justin, just announce the name. Tweets like this only allow your followers to romanticize who it could be and most often when people do that, they are let down.
— Crypto Kevin (@cryptoskevin) October 12, 2018
It now seems that Crypto Kevin was right. Soon the news came out that the ‘partnership’ is with Baidu, but, unfortunately, not in a way that many TRON holders would have hoped for. A trusted cryptocurrency source in China reported that the partnership with Baidu is, currently, not really a partnership.
CnLedger reported that according to local publications, TRON acquired the services of Baidu to launch, build, operate, and debug blockchain-based products on Baidu Cloud.
“The ‘partnership’ between Baidu and Tron is basically about Tron buying cloud computing resources from Baidu. ‘The two parties have made no contact at the blockchain business level.’ According to the ODaily, recently, Baidu Cloud and Tron have reached cooperation in the field of basic cloud business. Tron will build, operate and debug blockchain products based on Baidu Cloud in order to ensure compatibility and optimize development experience.”
Ari Paul, the co-founder of Blocktower and a prominent cryptocurrency investor, wrote in a response to the news:
“Assuming the below is accurate, this deserves to be called out as misleading marketing. If I buy a computer with Microsoft Windows installed, I should not claim to have partnered with Microsoft without clarifying the limited nature of the ‘partnership.”
Regardless if TRON, in the end, is going to start a real partnership with Baidu, it cannot be denied that the partnership tweet by Justin Sun has been very misleading. And, it has also not been the first time that Sun announced all kind of partnerships to create a hype.
Justin Sun has adopted many funny names within the crypto space over the years, with most of the names containing the word “hype”. Justin Sun is well known for sending an enormous amount of tweets on a daily basis, mostly hinting towards potential partnerships. Many crypto investors, therefore, often joke about Justin Sun partnering with the moon, the air or with an invisible friend.
For transparency, it is important for blockchain projects to explicitly describe the intricacies of the partnerships they engage in, as misleading investors to purchase cryptocurrencies could be considered as a dishonest activity that could hinder the reputation of projects.
That said, Justin Sun is also lucky that we are currently still operating in an unregulated market. If this was a regulated market, Sun’s comment could have been easily seen by the SEC as illegal insider trading.
TRON itself a very good project, but it is time that Justin Sun is going to realize that his actions are just creating a lot of people outside of the TRON community to ignore TRON in every way possible.
The post Did the Puff Daddy of Crypto, Justin Sun, Misled Investors by Claiming a Partnership with Baidu? appeared first on Altcoin Buzz.
Source: Altcoin Buzz News
Original Post: Did the Puff Daddy of Crypto, Justin Sun, Misled Investors by Claiming a Partnership with Baidu?