{"id":165346,"date":"2024-04-29T14:04:50","date_gmt":"2024-04-29T14:04:50","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=165346"},"modified":"2024-04-29T14:04:54","modified_gmt":"2024-04-29T14:04:54","slug":"tron-ceo-doubts-ethereum-etf-approval-in-may-citing-regulatory-education-need","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/tron-ceo-doubts-ethereum-etf-approval-in-may-citing-regulatory-education-need\/","title":{"rendered":"Tron CEO Doubts Ethereum ETF Approval in May, Citing Regulatory Education Need"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul style=\"text-align: justify\">\n<li><strong>Justin<\/strong> <strong>Sun<\/strong>, Tron&#8217;s CEO<strong>, is skeptical about the approval of Ethereum ETFs in May<\/strong>, arguing that there is a need for more long-term regulatory education.<\/li>\n<li>The SEC announced a <strong>delay in the decision on Franklin Templeton&#8217;s Ethereum ETF.<\/strong><\/li>\n<li>Several companies, such as BlackRock and Fidelity, have applied for ETF issuance, but <strong>Bloomberg Intelligence analysts show doubts about their approval due to recent SEC delays.<\/strong><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><a href=\"https:\/\/crypto-economy.com\/what-is-tron\/\" target=\"_blank\" rel=\"noopener\">Tron&#8217;s<\/a> CEO and founder, Justin Sun, has expressed skepticism about the approval of Ethereum exchange-traded funds (ETFs) set to be decided in May.<\/strong> Sun pointed out that ETH needs more extensive and long-term education with regulators before an ETF approval can be expected.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">My honest opinion (NFA) is that an Ethereum ETF won&#39;t be approved in May. The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto. But we&#39;ve always been here, haven&#39;t we?<\/p>\n<p>&mdash; H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1784609758076703224?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 28, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">Recently, the U.S. Securities and Exchange Commission (SEC)<strong> announced a delay in its decision on Franklin Templeton&#8217;s <a href=\"https:\/\/crypto-economy.com\/best-ethereum-wallets\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> ETF proposal, extending the deadline until June 11, 2024.<\/strong> The new postponement has raised doubts in the community about the regulator&#8217;s decision, although forecasts from various experts are not optimistic.<\/p>\n<p style=\"text-align: justify\">Several companies, including BlackRock, 21Shares with Ark, Fidelity, Invesco together with Galaxy, Grayscale, VanEck, Hashdex, and Franklin Templeton, have submitted their respective applications to issue the new ETFs. However, <strong>Bloomberg Intelligence analysts maintain clear skepticism about the approval of these financial products, especially after the recent SEC delays.<\/strong><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-79001\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/02\/tron-post-1.jpg\" alt=\"tron post\" width=\"825\" height=\"300\" \/><\/p>\n<h2>Tron&#8217;s CEO Engages in Legal Dispute with the SEC<\/h2>\n<p style=\"text-align: justify\">Sun&#8217;s history with the SEC is surrounded by controversies. Currently, t<strong>he CEO of <a href=\"https:\/\/coinmarketcap.com\/currencies\/tron\/\" target=\"_blank\" rel=\"noopener\">TRON<\/a> is being sued for alleged market manipulation and sale of unregistered securities.<\/strong> The U.S. regulator alleges that Justin and several crypto industry entities<strong> offered and sold unregistered securities in the form of Tronix (TRX) and BitTorrent (BTT)<\/strong>. The agency also claims that Sun extensively traveled to the United States on behalf of the Tron Foundation, the BitTorrent Foundation, and\/or Rainberry.<\/p>\n<p style=\"text-align: justify\">Aside from his legal issues, Justin Sun owns a vast amount of assets, <strong>including a sum of $280 million in stablecoins<\/strong>, according to Arkham&#8217;s data. Additionally, it was recently revealed that he commissioned the Academy Award-winning music composer and producer Hans Zimmer to compose the TRON anthem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Justin Sun, Tron&#8217;s CEO, is skeptical about the approval of Ethereum ETFs in May, arguing that there is a need for more long-term regulatory education. The SEC announced a delay in the decision on Franklin Templeton&#8217;s Ethereum ETF. Several companies, such as BlackRock and Fidelity, have applied for ETF issuance, but Bloomberg Intelligence analysts &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Tron CEO Doubts Ethereum ETF Approval in May, Citing Regulatory Education Need\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/tron-ceo-doubts-ethereum-etf-approval-in-may-citing-regulatory-education-need\/#more-165346\" aria-label=\"More on Tron CEO Doubts Ethereum ETF Approval in May, Citing Regulatory Education Need\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":165348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73,70,74],"tags":[4924,4679,4738,4816,4855],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165346"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=165346"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165346\/revisions"}],"predecessor-version":[{"id":165349,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/165346\/revisions\/165349"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/165348"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=165346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=165346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=165346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}