Rumours fly and Tron tumbles when Chinese cryptocurrency entrepreneur postpones lunch with Warren Buffett | Financial Post
(business.financialpost.com)
The digital token known as Tron tumbled as much as 21 per cent after cryptocurrency entrepreneur Justin Sun postponed his charity lunch meeting with billionaire Warren Buffett citing a bout of kidney stones.
The announcement kicked off a frenzy of speculation on Twitter and in Chinese social media, which claimed that Sun has been denied an exit visa from China, and that the 29-year-old is the subject of investigations for everything from illegal fundraising to money laundering.
“He is in San Francisco in his condo recovering from kidney stones,” Cliff Edwards, a spokesman for Sun, said in a phone interview Tuesday with Bloomberg News. Buffett and Sun agreed to reschedule, according to a tweet Monday from his Tron Foundation. The lunch had been set for Thursday in San Francisco.
Sun bid a record US$4.57 million this year to win the chance to dine with Buffett as part of his annual charity lunch auction.
Sun, who launched Tronix in 2017, said in June that he was hoping to educate Buffett, a self-professed cryptocurrency critic, on the benefits of crypto and the underlying technology, blockchain.
The postponement came only hours after Sun tweeted invitations to other crypto boosters. Sun denied media reports that he was involved in illegal fundraising and money laundering, according to China’s state-run Global Times.
The announcement kicked off a frenzy of speculation on Twitter and in Chinese social media, which claimed that Sun has been denied an exit visa from China, and that the 29-year-old is the subject of investigations for everything from illegal fundraising to money laundering.
“He is in San Francisco in his condo recovering from kidney stones,” Cliff Edwards, a spokesman for Sun, said in a phone interview Tuesday with Bloomberg News. Buffett and Sun agreed to reschedule, according to a tweet Monday from his Tron Foundation. The lunch had been set for Thursday in San Francisco.
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Sun bid a record US$4.57 million this year to win the chance to dine with Buffett as part of his annual charity lunch auction.
Sun, who launched Tronix in 2017, said in June that he was hoping to educate Buffett, a self-professed cryptocurrency critic, on the benefits of crypto and the underlying technology, blockchain.
The postponement came only hours after Sun tweeted invitations to other crypto boosters. Sun denied media reports that he was involved in illegal fundraising and money laundering, according to China’s state-run Global Times.
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Francisco Gimeno - BC Analyst Crypto volatility continues to be its worst enemy in a market which is not of a enough size to be able to control it. However, speculations and rumours are yet rife over Tron and Sun. We have no other option but wait and see.