Justin Sun: The Chinese 'Crypto King' Who Bought 'Duct-Taped Banana' Artwork For $6 Million

Chinese-born 'Crypto King' Justin Sun who is the founder of Tron and the CEO of BitTorrent, has added to his acquisitions by purchasing this artwork

Justin Sun, a Chinese-born businessman, is the purchaser of this art. The founder of Tron, Sun has acquired numerous companies and is the CEO of BitTorrent.

Born on 30 July 1990, in Xining city, Qinghai province of China, he later became a citizen of Grenada. Sun holds a Bachelor’s degree in History from Peking University and completed further studies at the University of Pennsylvania.

Justin Sun entered the cryptocurrency sector in 2013 when he joined Ripple Labs as Chief Representative and Advisor. Following this, he founded Peiwo in 2014, a popular audio-based social networking app that reached over 10 million users in China.

Sun founded TRON in 2017, a decentralised blockchain platform. Tron held an initial coin offering (ICO) for its native token TRX, raising about $70 million, similar to an IPO. Tron aims to decentralise the internet and provide users with more control over their data. In 2018, Sun acquired BitTorrent and introduced the BTT token under it. His company, Tron, is now considered one of the top cryptocurrencies in the world. He also made payments in cryptocurrency to purchase this art.

Justin Sun has been embroiled in numerous controversies, most notably when the US Securities and Exchange Commission (SEC) accused him of perpetrating fraud to inflate the prices of TRX and BTT tokens.

Justin Sun’s net worth is estimated to be approximately $1.43 billion (over Rs 12,000 crore). He maintains a significant social media presence with over 3.3 million followers on Twitter. His lifestyle and persona project an image of a flamboyant entrepreneur.