Hurun Report Interview with Justin Sun: New Paradigm of Value Circulation in the Web3 Transformation Cycle

链捕手Pubblicato 2026-05-29Pubblicato ultima volta 2026-05-29

Introduzione

In an interview with *Hurun Report*, Justin Sun, founder of TRON, discussed the evolution of the Web3 industry as it transitions from early-stage exploration to large-scale adoption. He emphasized that the fundamental goal of blockchain technology is to build an open and inclusive internet of value, enabling low-cost, efficient fund transfer for anyone globally, regardless of location or access to banking. Sun highlighted stablecoins as the most mature and scalable application within Web3, noting that TRON has grown into one of the world's largest stablecoin networks, with over $86.3 billion in USDT circulation. He attributed this growth to genuine user demand in cross-border payments and daily transactions, reflecting a structural shift where blockchain's openness and efficiency are naturally supplementing traditional financial systems. Regarding strategy, Sun outlined a framework combining data-driven iteration, rapid execution, and user-centricity. He pointed to TRON's partnership with Tether for TRC-20 USDT as a key decision that leveraged market trends and network effects to build a competitive moat. He also stressed the importance of globalization, noting that success in different markets depends on deep local compliance, cultural adaptation, and partnership networks. Sun expressed strong interest in the convergence of AI and blockchain, viewing AI as a transformative force that can enhance blockchain's intelligence and user experience, while blockchain provides dece...

Against the backdrop of the Web3 industry entering a deep-water zone and the accelerated global restructuring of financial infrastructure, blockchain is transitioning from early exploration to large-scale application. As an authoritative institution with extensive influence in business and investment, an in-depth interview by the renowned magazine, Hurun Report, is regarded as a significant industry barometer. Recently, Justin Sun, founder of TRON, in an exclusive interview with Hurun Report, systematically elaborated his judgment on industry evolution and long-term value around core issues such as stablecoin payments, globalization path, and AI integration trends. His views also reflect the critical stage where Web3 infrastructure is moving from "feasibility verification" to "global adoption".

Stablecoins Building a Global Value Circulation Network, Web3 Infrastructure Enters Scaling Phase

In the interview with Hurun Report, Justin Sun summarized the core goal he has long been committed to in extremely concise terms: "To enable any person in the world, regardless of location or whether they have a bank account, to transfer and use their funds at low cost and high efficiency." This statement fundamentally reveals the value essence of blockchain technology — constructing an open and inclusive value internet.

He further pointed out that after the blockchain industry has gone through multiple bull and bear cycles, projects truly capable of weathering these cycles must be built upon real demand and practical usage. The continuous growth of on-chain user scale and transaction volume is an important basis for his judgment of industry direction. In this context, the on-chain payment system centered around stablecoins has become the most mature and capable application scenario for scaling currently.

In the Hurun Report interview, Justin Sun mentioned that TRON has rapidly developed into one of the world's largest stablecoin circulation networks, with its on-chain asset transfer volume even surpassing that of some traditional payment networks. This growth is not driven by short-term market sentiment but based on the continuous use by real users in scenarios such as cross-border transfers, value storage, and daily payments. Official data shows that the current circulation of USDT on the TRON chain has exceeded $86.3 billion, a scale reflecting strong network effects driven by real user demand.

From a structural advantage perspective, the scaling of stablecoin payments benefits from two factors: on one hand, blockchain networks possess openness and permissionless characteristics, enabling them to cover user groups difficult for the traditional financial system to reach; on the other hand, the limitations of traditional cross-border payment systems in efficiency, cost, and user experience provide significant substitution space for new-generation infrastructure. Sun believes this trend is essentially a "natural substitution" of existing financial systems by technological progress, not short-term competition.

Globalization Strategy and Technology Convergence Advance in Parallel, Building Long-term Competitive Advantage for Web3

When discussing enterprise growth and strategic decision-making, Justin Sun presented a highly systematic methodology in the Hurun Report interview. He summarized the success factors as the combination of "data-driven iteration, rapid execution, and user orientation," emphasizing that in a rapidly changing technological environment, single-dimensional capabilities can no longer support long-term competitiveness; the synergy of these three is necessary to achieve efficient trial-and-error and precise decision-making.

At the organizational level, he proposed a management framework of "clear direction, layered support, and a sense of ownership among all members" to avoid deviation and loss of control during rapid expansion. This organizational structure, emphasizing flatness and agility, is seen as an important foundation for Web3 enterprises to maintain competitiveness in highly uncertain environments.

Regarding key strategic decisions, Sun reviewed the case of TRON's partnership with Tether to launch TRC-20 USDT in the Hurun Report interview. He stated that this decision was based on a comprehensive assessment of market trends, competitive landscape, and risk-reward ratio: stablecoins represent a long-term trend in financial system evolution, top assets possess significant network effects, and the upside potential in this field far outweighs the potential risks. It has been proven that this cooperation became a crucial growth engine for the TRON ecosystem and built its core competitive moat in the stablecoin domain.

Regarding global expansion, Sun emphasized that while Web3 has inherent cross-border properties, its actual implementation remains highly dependent on local compliance and cultural adaptation. In the Hurun Report interview, he noted that different markets have significant differences in regulatory frameworks, user habits, and business environments. The success of a project often depends on the depth of understanding of these differences and the ability to build local partnership networks.

Furthermore, Justin Sun expressed a clear judgment on the development of AI technology. In the interview, he stated that AI is not merely a tool upgrade but a reconstruction of "thinking and decision-making capabilities." Its integration with blockchain in data, computing power, and intelligent execution will become a crucial direction for the next stage of technological evolution. Blockchain provides decentralized infrastructure for AI, while AI enhances the intelligence and user experience of blockchain systems; the convergence of the two holds long-term strategic value.

For industry participants and young entrepreneurs, the core advice Justin Sun gave in the Hurun Report interview is: in a highly uncertain environment, continuous learning and rapid adaptation are the most critical abilities. Simultaneously, one should focus investments based on an understanding of the overall industry landscape, building irreplaceable core strengths rather than dispersing resources across multiple tracks.

From early-stage technical verification and market exploration, gradually entering the large-scale application phase represented by stablecoins, and extending towards AI convergence and global compliant implementation. In this process, TRON is continuously advancing the implementation and evolution of the value internet through infrastructure capabilities, globalization strategy, and forward-looking technological layout.

Letture associate

Bitwise: Crypto Becomes a Contrarian Investment, Three Logics to Understand the Current Market

**Summary** Matt Hougan, Bitwise's CIO, analyzes the current crypto market through three key lenses, arguing it has shifted from a momentum-driven to a contrarian investment. **1) Crypto Becomes a Contrarian Play:** The market is weak, with major assets like Bitcoin and Ethereum down significantly. Capital has moved to hot sectors like AI, leaving crypto as an "unloved" asset class. This transforms crypto investing from trend-following to a test of patience and fundamental analysis. Investors now favor projects with solid fundamentals (e.g., Hyperliquid) over speculative ones. **2) Regulatory Overhang:** The uncertain fate of the U.S. CLARITY Act, a major crypto regulatory framework, is a key headwind. With its passage in 2024 seen as far from guaranteed (estimates range from 30-55%), institutional capital remains on the sidelines, choosing less risky alternatives like AI stocks. The market needs clarity—whether the bill passes or fails—more than any specific outcome to move decisively. **3) Capital Rotates to New Fundamentals:** This cycle differs from past bear markets where money fled to Bitcoin. Now, capital seeks smaller assets with strong use cases. While major cryptos fell in May 2024, tokens like Hyperliquid (+72%), Zcash (+50%), and XLM (+44%) rallied on their specific fundamentals. This rotation confirms the new contrarian, fundamentals-driven logic and signals the bear market may be in its later stages. **Conclusion:** Short-term pressure persists due to regulatory uncertainty and competition from AI narratives. Investing in crypto now requires a contrarian mindset—acting against the crowd and focusing on fundamental value. Patience and targeting high-quality projects based on their merits are essential for capturing long-term gains.

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ChatGPT Might Be Disappearing Soon

OpenAI announced at its "Intelligence at Work" event that its coding assistant, Codex, will be fully integrated into the ChatGPT app within weeks. This move marks a strategic shift from a conversational AI (Chat) towards a unified "agentic" platform capable of execution. Codex, originally launched to compete with Anthropic's Claude Code, has grown rapidly to 5 million weekly active users, with 20% being non-developers like analysts and designers. Its enterprise revenue now constitutes 40% of OpenAI's total. The integration is the first step in creating a super-app combining ChatGPT (interface), Codex (execution engine), and the Atlas browser (web access). OpenAI also unveiled new Codex features: specialized Agent plugins for six professional roles, an "Annotations" tool for direct document editing, and a "Sites" function to turn work into shareable web apps. Internally, this reflects a power shift; the Codex team now leads core product strategy. While the ChatGPT brand remains for its vast user base, the platform's future is focused on autonomous agents that perform tasks, not just chat. The article notes that competition with Claude Code pushed OpenAI's development, with Codex competing on cost-effectiveness and accessibility rather than raw coding quality. It concludes that the essence of "ChatGPT" is evolving from a chatbot into an AI agent platform, with the name potentially becoming a legacy symbol of its original function.

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WWDC26 Ultimate Preview: The All-New Siri is the Main Course, iOS 27 is Another Year of Refinements

Apple has confirmed WWDC26 will begin on June 8, with the keynote at 10 AM PT (1 AM Beijing Time, June 9). This year's focus is expected to shift significantly from routine OS updates to Apple's progress in AI, particularly a major overhaul of Siri. Reports indicate the highlight will be a new Siri, reportedly powered by Google's Gemini technology. This upgraded assistant is expected to appear as a lightweight bubble from the Dynamic Island and be accessible via a unified "Search or Ask" system-wide entry point. It aims to deeply integrate with iOS 27, iPadOS 27, and macOS 27, accessing personal data like messages, photos, and documents, with a potential standalone Siri app also in development. For iOS 27, leaks suggest incremental improvements rather than major redesigns. Key updates may include a redesigned, more customizable Camera app, enhanced photo editing tools within the Photos app, and potential early system optimizations for a future foldable iPhone. The update is also rumored to prioritize bug fixes, stability, and performance optimization. iPadOS 27 is anticipated to focus on improving productivity features like window management, file systems, and external display support to better utilize the iPad's hardware. macOS 27 is seen as a core platform for Apple Intelligence, likely receiving an optimized Siri, new AI features, and continued refinement of the "Liquid Glass" design language. Notably, macOS 27 may finally drop support for Intel-based Macs. The overarching theme for WWDC26 is whether Apple can effectively integrate AI across its ecosystem. The success of the new Siri and Apple Intelligence will be judged on their ability to move beyond standalone features and become a cohesive, context-aware system layer that understands user workflows across iPhone, iPad, Mac, and other devices, while maintaining Apple's emphasis on privacy and stability. The conference represents Apple's critical attempt to catch up and redefine the AI assistant experience after a perceived slow start in the generative AI era.

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