TL;DR: The founder of TRON and CEO of BitTorrent, Justin Sun, is reportedly under investigation by Chinese authorities, according to regional media. Rumors and accusations against Sun have gained traction in the hours since he abruptly announced the cancellation of a highly anticipated lunch with investor Warren Buffett.
Justin Sun of TRON Not Allowed to Leave China
“Some thoughts on the latest Justin-Buffett lunch date situation,” cnLedger mused. “Note that it’s just a guess. Please take it with a grain of salt. Normally we don’t tweet unconfirmed news. But some info (such as people under border control) may never [be] publicly confirmed.”
Hours later, they stressed, “Caixin confirms our thought as Justin Sun @justinsuntron is now under investigation and cannot leave China,” citing media accounts of the matter. Sina Finance News described the TRON founder as being “controlled,” insisting a regulatory body “has recommended [for] public security organs to file the case” having to do with Sun’s financial operations brought to their attention “because of the relationship with Buffett.”
TRON Foundation announces postponement of Warren Buffett lunch, press conferences after founder Justin Sun falls ill with kidney stones. Parties agreed to reschedule at a later date. @GLIDEsf @WarrenBuffett
— TRON Foundation (@Tronfoundation) July 22, 2019
The Caixin report is more salacious, claiming Sun had to call off his lunch with Buffett “because of suspected illegal fundraising, money laundering, involvement in pornography, and gambling.” On the news, TRON’s price by publication time had dropped some 20%.
Sun paid nearly $5 million to the charitable foundation of famous investor Warren Buffett, known for being a prodigious investor and his skepticism towards cryptocurrency. Sun’s idea was to outbid others to earn a lunch with Buffett, and then try to convince him to embrace cryptocurrency. Sun had been announcing various guests attending the lunch in recent days. Suddenly, TRON tweeted out Sun would be unable to make the lunch as planned due to health concerns. No comment yet from TRON or Sun about not being able to legally leave the country.
UPDATE: Justin Sun shows video from San Francisco, CA
— Justin Sun (@justinsuntron) July 23, 2019
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.
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