Warren Buffett lunch mystery deepens as Chinese cryptocurrency entrepreneur Justin Sun issued a broad apology.
Chinese cryptocurrency entrepreneur Justin Sun, who cited health issues in postponing his charity lunch this week, issued a broad apology to just about everyone for endorsing the plan to dine with Warren Buffett.as per Bloomberg report.
In a lengthy post on Weibo, Justin Sun, who turns 29 this month, said he acted immaturely and set a bad example for the public while “excessively” promoting the event.
“It has produced a lot of consequences that I completely did not expect,” Sun added, without elaborating on what they were.
Justin Sun’s announcement Monday that he was delaying a lunch he’d won with a $4.57 million bid at auction fueled speculation he or his company had come under pressure.
The move was surrounded by a flurry of posts and articles claiming he was denied an exit visa from China and that his venture and its cryptocurrency, Tron, faced investigation.
The digital coin’s price fell even after Justin Sun posted a video that showed him in San Francisco.
One person aware of the matter said several Tron executives were briefly detained by Chinese authorities, and then released once Sun agreed to put off the lunch. The person asked not to be identified discussing the private developments.
Warren Buffett’s annual charity auction has rarely been so dramatic in recent years, with many winners choosing to remain anonymous.
The annual Power of One Lunch with @WarrenBuffett and @JustinSunTron has been postponed. The record-breaking $4.6 million raised through the Buffett auction is already transforming lives @GLIDEsf. We remain deeply grateful for the 20-year partnership with @WarrenBuffett. pic.twitter.com/0Ecq1FJJSu— GLIDE (@GLIDEsf) July 24, 2019
Justin Sun announced in June that he was hoping to educate Buffett, a self-professed cryptocurrency critic, on the benefits of digital currencies and their underlying technology, blockchain.
Meanwhile, Tron has lost about 18% of value this week, according to prices on CoinMarketCap.com.
By: Abhinav Ranjan, Editorial Desk, DKODING Media