According to the Financial Times, Justin Sun, the founder of the Tron ecosystem, has cited the “very friendly” crypto legislation, the English acceptance rate, and its standard legal systems as reasons why the area is a desirable location for the exchange to locate its new operations headquarters.
After founder Leon Li opted to sell his stock in the company, About Capital Management last month purchased Huobi Exchange. There have been rumors at the moment that Justin Sun had purchased the exchange, but the crypto inventor and billionaire refuted this.
It was then revealed that Sun had been designated as a special adviser to the Huobi Global board and has since had a significant influence on choices relating to the operational effectiveness of the trading platform. Although the specific Caribbean nation has not yet been determined, Panama, Dominica, and the Bahamas continue to be at the forefront of the list, according to Sun.
As Grenada's official representative at the World Trade Organization, Justin Sun has been expanding his presence throughout the Caribbean during the past year (WTO). In a very positive development for the ecosystem, Sun claimed to have met with Dominica's prime minister Roosevelt Skerrit and that Huobi will assist the island nation in creating its legislative structure for cryptocurrencies.
Sun's efforts to get Huobi's offices moved to the Caribbean will follow Sam Bankman-previous Fried's year, when he relocated FTX Derivatives Exchange from Hong Kong to the area.
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