Ramazan Eles 
Justin Sun, the founder of Tron (TRX), has publicly voiced strong criticism of a newly launched cryptocurrency.
In a recent statement, Sun took aim at cbBTC, a Bitcoin alternative introduced by Coinbase, questioning its transparency and decentralization. He particularly pointed out the lack of proof of reserves and insufficient auditing.
Sun accused Coinbase of having the ability to freeze balances at will, raising concerns about the centralization risks inherent in cbBTC. “cbBTC lacks proof of reserves, has no audits, and can freeze anyone’s balance at any time. It’s essentially saying ‘just trust us,’” Sun remarked, adding that any subpoena from the U.S. government could result in the seizure of all related Bitcoin holdings.
He even dubbed cbBTC as “central bank Bitcoin.”
His sharp critique comes amidst growing discussions about Sun’s involvement in the governance of Wrapped Bitcoin (WBTC), which has further fueled debate.
Sun concluded his comments by highlighting a stark contrast between Bitcoin’s foundational principles and what cbBTC represents. He stated, “There’s no more absurd combination in the world than central banks and Bitcoin. I believe this is a reality that Satoshi Nakamoto could never have envisioned when creating Bitcoin.”
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