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

链捕手Опубліковано о 2026-05-29Востаннє оновлено о 2026-05-29

Анотація

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.

Трендові криптовалюти

Пов'язані матеріали

Podcast Notes | Conversation with GSR Asset Management Head: To Determine if This Crypto Rally is Real, Just Watch the Lending Rates on Aave

Podcast Summary: Dialogue with GSR's Head of Asset Management: To Determine if This Crypto Rally is Real, Just Check Lending Rates on Aave Andy Baehr, Managing Director of Asset Management at GSR, discusses the current crypto market, characterizing it as stuck in a state of "ambivalence" with short-lived, unsustainable rallies. He outlines a simple framework: the market moves between "ambivalence" and "conviction" (sustained upward momentum). Currently, every rally resembles a single-stage rocket booster that quickly fizzles out. Baehr identifies three key signals to watch: 1) DeFi lending rates, 2) the potential passage of the CLARITY Act, and 3) the market forming a consensus on the "Fed hawkish peak." He emphasizes that the most immediate indicator for the sustainability of the recent CPI-triggered rally is the USDC borrowing rate on Aave, currently around 3.75%—close to U.S. Treasury yields. The absence of a credit spread indicates low leverage demand and a lack of market energy. He explains that a healthy, sustained rally requires layered buying pressure. Last year's rally progressed from an ETH short squeeze to crypto-native trader influx and finally to ETF inflows. Currently, this structure is missing. Other potential structural buyers like Digital Asset Treasury (DAT) companies are absent, and ETF flows have proven transient. Baehr notes that while small-cap crypto tokens outperformed large caps in Q2—a potential sign of capitation in major assets—capital is also flowing to more exciting opportunities like AI stocks and tech IPOs, leaving crypto sidelined. Regarding DeFi, he highlights that platforms like Aave provide a clear, real-time signal of leverage demand through their supply/demand-driven interest rates. A significant, sustained rate increase would signal genuine market conviction. He also observes the quiet emergence of fixed-income-like products and vaults in DeFi. On regulation, the probability of the CLARITY Act passing before the August 7th deadline has dropped linearly from 75% to below 40% on Polymarket. Baehr suggests its passage would be treated as a bullish surprise, a potent driver for price movement. However, political hurdles, including ethical clause debates and disclosures about the First Family's crypto profits, remain significant obstacles. Ultimately, the market awaits clarity on the Fed's terminal rate under Chair Warsh. Until the "Fed Solstice"—the point where the market collectively understands the peak of hawkish policy—sustained conviction will be difficult to achieve.

marsbit9 хв тому

Podcast Notes | Conversation with GSR Asset Management Head: To Determine if This Crypto Rally is Real, Just Watch the Lending Rates on Aave

marsbit9 хв тому

7 Months After the Collapse of Huiwang, Southeast Asia's Escrow Platforms Undergo a Major Reshuffle

Following the collapse of Huione Pay—dubbed the "Alipay of Southeast Asia"—seven months ago, the region's underground financial guarantee platform sector is undergoing a significant reshuffle. This power vacuum has been swiftly filled by emerging platforms such as XinBi, Tiger/Navigator, JinBei (renamed JinBo), Dali/Tiancheng, and FullyLight. These platforms, operating largely via Telegram and offering services like escrow for illicit transactions, have absorbed the vast user base and markets left behind by Huione. While positioning themselves as "trust intermediaries," their primary clientele consists of networks involved in online scams, money laundering, illegal gambling, and even human trafficking. For instance, the Tiger/Navigator platform explicitly provides "escrow" services for kidnapping-for-ransom operations ("强押车交易"). Data underscores the immense scale: Huione alone processed over $103 billion in cryptocurrency payments and facilitated over $31 billion through its escrow market before its downfall, linking it to Cambodia's notorious Prince Group. Since its collapse, competitors have seen explosive growth. For example, the XinBi platform has accumulated over $1.6 billion in total USDT revenue, while platforms like NewPay, OkPay (under Dali), and FullyLight Wallet collectively processed over $4.8 billion in USDT in a single year. This ecosystem thrives in regions like Cambodia and Myanmar, where regulatory gaps allow these platforms to act as critical financial infrastructure for sprawling cybercrime industries, from scam compounds to online casinos. The article concludes that the moniker "Southeast Asian Alipay" is a misnomer, obscuring the platforms' fundamental role in enabling serious criminal enterprises rather than representing legitimate financial innovation.

Odaily星球日报1 год тому

7 Months After the Collapse of Huiwang, Southeast Asia's Escrow Platforms Undergo a Major Reshuffle

Odaily星球日报1 год тому

The Changing Landscape: What Are Crypto VCs Experiencing?

Title: The Shifting Landscape of Crypto Venture Capital The era of dedicated crypto venture capital funds is undergoing a significant transformation. Once essential for navigating the sector's complexity and high risk, these specialized funds are now facing an identity crisis as the market matures. This shift mirrors historical patterns in other specialized investment classes like cleantech and SPACs, where initial information advantages dissipate as technologies become mainstream and integrated into existing industry frameworks. The article argues that crypto is reaching a critical inflection point, transitioning from a "building phase" to an "integration phase." Major players like Stripe, BlackRock, and Visa now engage with crypto not for its novel mechanics but as a foundational financial infrastructure. Their needs—regulatory compliance, banking partnerships, distribution channels—align with traditional fintech, a domain easily understood by large, generalist funds like Sequoia and Founders Fund. This evolution creates a "barbell effect" within the VC landscape. On one end are massive, diversified platforms that can incorporate crypto as one vertical among many. On the other are small, nimble funds focused on niche, experimental projects. The middle ground—medium-sized dedicated crypto funds—is being squeezed out. Their typical fund size makes it impossible to generate sufficient returns solely from early-stage crypto bets, yet they cannot compete with giants for later-stage deals. Consequently, leading crypto-native firms like Paradigm and Framework Ventures are expanding into AI, robotics, and other sectors, driven partly by LP pressure for better returns amid a broader VC DPI crisis. Others, like Dragonfly and a16z, have narrowed their crypto focus predominantly to financial infrastructure like stablecoins, reframing the sector's core narrative. For crypto entrepreneurs, this consolidation presents challenges. While generalist funds offer larger checks and broader resources, crypto projects now compete fiercely with AI for attention and capital within these firms. Furthermore, the long-term, non-commercial foundational work that built the ecosystem—funded by dedicated crypto VCs—is less likely to attract generalist capital focused on direct returns. The conclusion is that "crypto investor" as a standalone category is becoming obsolete, akin to "internet investor." Crypto is becoming a baseline infrastructure layer. The future will see a barbell structure: large-scale growth financing handled by generalist funds, while pioneering, speculative projects are funded by small, specialized vehicles. The dedicated crypto funds of the 2017-2021 boom, which incubated core infrastructure, are giving way to this new, bifurcated reality.

Foresight News1 год тому

The Changing Landscape: What Are Crypto VCs Experiencing?

Foresight News1 год тому

Торгівля

Спот

Популярні статті

Як купити SUN

Ласкаво просимо до HTX.com! Ми зробили покупку SUN (SUN) простою та зручною. Дотримуйтесь нашої покрокової інструкції, щоб розпочати свою криптовалютну подорож.Крок 1: Створіть обліковий запис на HTXВикористовуйте свою електронну пошту або номер телефону, щоб зареєструвати обліковий запис на HTX безплатно. Пройдіть безпроблемну реєстрацію й отримайте доступ до всіх функцій.ЗареєструватисьКрок 2: Перейдіть до розділу Купити крипту і виберіть спосіб оплатиКредитна/дебетова картка: використовуйте вашу картку Visa або Mastercard, щоб миттєво купити SUN (SUN).Баланс: використовуйте кошти з балансу вашого рахунку HTX для безперешкодної торгівлі.Треті особи: ми додали популярні способи оплати, такі як Google Pay та Apple Pay, щоб підвищити зручність.P2P: Торгуйте безпосередньо з іншими користувачами на HTX.Позабіржова торгівля (OTC): ми пропонуємо індивідуальні послуги та конкурентні обмінні курси для трейдерів.Крок 3: Зберігайте свої SUN (SUN)Після придбання SUN (SUN) збережіть його у своєму обліковому записі на HTX. Крім того, ви можете відправити його в інше місце за допомогою блокчейн-переказу або використовувати його для торгівлі іншими криптовалютами.Крок 4: Торгівля SUN (SUN)Легко торгуйте SUN (SUN) на спотовому ринку HTX. Просто увійдіть до свого облікового запису, виберіть торгову пару, укладайте угоди та спостерігайте за ними в режимі реального часу. Ми пропонуємо зручний досвід як для початківців, так і для досвідчених трейдерів.

572 переглядів усьогоОпубліковано 2024.12.12Оновлено 2025.03.21

Як купити SUN

Обговорення

Ласкаво просимо до спільноти HTX. Тут ви можете бути в курсі останніх подій розвитку платформи та отримати доступ до професійної ринкової інформації. Нижче представлені думки користувачів щодо ціни SUN (SUN).

活动图片