Tron blockchain founder Justin Sun has unveiled a new financial product linked to USDT, the world’s most popular stablecoin , as Democratic lawmakers called on the US Securities and Exchange Commission (SEC) to look into “concerning ties” between the cryptocurrency entrepreneur and US President Donald Trump ’s family.
In a social media post on Friday, Sun said he launched a website dedicated to “perpetual futures”, also known as “perps” – financial instruments that allow traders to speculate on the price of an asset at an unspecified point in the future. He pointed out that “Tron is a major USDT network” and that “perps were one of USDT’s earliest use cases”.
The new perps trading website, however, was introduced at a time when two Democratic members of the US Congress, representative Sean Casten and senator Jeff Merkley, wrote a public letter to the SEC to complain about “a litany of issues” surrounding Sun’s ties to the Trump family and Tron’s recent listing on the Nasdaq stock market via a reverse merger.
Tron did not immediately respond to a request for comment.
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