Tron’s Alleged Scandal Postpones $4.6M Lunch with Warren Buffett.
$4.6M Charity Lunch
Justin Sun’s highly-anticipated $4.6 million charity such with billionaire investor Warren Buffett has been postponed. Tron foundation posted a statement yesterday via Twitter claiming that Sun has fallen ill with kidney stones and that the parties have agreed to reschedule at a later date.
The lunch was scheduled for July 25 and was intended to introduce the notoriously crypto-skeptic Buffet to a number of influential figures in the space. As of yesterday, Sun had lined up Circle’s CEO Jeremy Allaire; Huobi’s Chris Lee; eToro’s Yoni Assia; and litecoin creator Charlie Lee to join him.
Fundraising Scandal
Hours after Justin Sun postposed his lunch, a Chinese business news outlet, 21st Century Business Herald, raised allegations accusing Sun of illegal fundraising for Tron. It was alleged that the Tron Network operated illegal gambling services accessible to Chinese residents and had illegal involvement in the pornography business.
Sun dismissed the allegations on Weibo and said he was being treated for kidney stones. “The illegal network fundraising was not true,” he wrote in Mandarin, adding that Tron “actively cooperated” with authorities to comply with regulatory requirements. He reiterated that Tron complied with laws and regulations in Singapore, where it’s located, and the money-laundering allegation was “not true.”.
Caixin, another Chinese publication, reported that Sun couldn’t attend the lunch because he was being held in China due to the accusations. However, just a few hours later, Sun streamed a live video that appeared to show him in San Francisco with the Bay bridge in the background. During the stream he said “ I’m not feeling quite well but I think we’re gonna postpone but definitely looking forward to it. It’s pretty comfortable in San Francisco”.
Justin Sun
The cryptocurrency pioneer who launched the Tronix (Tron) Token in 2017, which now has a value of $2.07B CAD and is the 11th largest cryptocurrency in the world, according to CoinMarketCap. He had the highest bid in the 20 years of the charity auction where proceeds will be going to Glide Foundation to help the homeless in San Francisco.
However, Sun hopes to offer the Berkshire Hathaway chief a different opinion. “I want him to learn what the younger generations are doing.” Sun says he’s a believer and a fan of Buffett and his “long-term value investing strategy,” adding he wanted to pay Buffett “back for his inspiration.”
The Oracle of Omaha
The 28-year-old Chinese entrepreneur says he hopes to educate Buffett, who once referred to Bitcoin as “rat poison squared”, on cryptocurrency.
“We know he’s not a proponent but what we want to do is to share with him the spirit of crypto and the progress that we have made,” Sun said at a conference earlier this month, according to the Journal. He added that he planned to hand Buffett a smartphone preloaded with cryptocurrencies. “We want him to own his own bitcoin or litecoin.”
“Even one of the most successful investors of all time can sometimes miss a coming wave.”
Justin Sun
Join over +
0
Users
Are you ready to Get Started? Sign Up Today!
