Skip to content

TRON is receiving $ 2 million in aid to deal with the COVID 19 crisis

May 7, 2020

The Tron Foundation has caused controversy again for receiving an alleged grant of $ 2 million through the U.S. government’s federal assistance program, the Benefits for small businesses affected by the pandemic crisis.

The official TRON account at WeChat seems to have spread the news on May 5th.

Screenshot of an alleged WeChat contribution by a Beijing-based subsidiary

TRON is receiving $ 2 million in aid to deal with the COVID 19 crisisTRON is receiving $ 2 million in aid to deal with the COVID 19 crisis

Screenshot of an alleged WeChat post about the subsidiary TRON in Beijing.

Source: WeChat

This WeChat post shows that the Tron Foundation successfully evaluated to a loan from Payment protection program (PPP for its acronym in English) carried out by the Small Business Administration (SBA) as part of the relief plan drawn up by the federal government to combat the coronavirus crisis.

The publication says that “the first batch of 17 million RMB (Renminbis) in subsidies has arrived, and the second batch of grant will also be issued in the near future. “

PPP beneficiaries caused controversy

The PPP was launched in early April with the goal offer small and medium-sized companies low interest, forgivable loans for meet your urgent financial needs to cover pay slips and other expenses.

The administration of President Donald Trump has received increasingly critical for the design of the PPP. Many say so meets the needs of large companies – some They have connections to interest groups for Trump’s re-election.

The gaps in the official PPP proposal They arouse a lot of suspicion and concern, since the loan program of $ 660 billion from the SBA It will end over time, which could burden small businesses with real trouble in the gutter.

Bryce Weiner, CEO of a Los Angeles company that contributed to the New York Times’ recent reporting on PPP-related disputes, commented about this May 7th:

“This is * exactly * the type of my # rda I’ve talked about @nytimes in my interview. This is not even an American company. And if it were one, it would not be decentralized and TRON is the proof. “

Weiner’s outrage at the obvious delivery of “seven figures the fourteenth largest crypto company ” Echoes from lots by other respondents in a tweet from Matthew Graham, CEO of Sino Global Capital, the Beijing-based blockchain investment company – who shared and translated the original WeChat message.

More subtle commentators they pointed to it Sun’s San Francisco offices and their apparent intent Take advantage of employee wage and salary protection by the U.S. government.

Til today Tron didn’t respond to Cointelegraphs Please comment.

Receive Breaking News !

Install
×
Enable Notifications    Ok No thanks