Rajarshi Mitra
Independent Analyst
- Sun says he hopes to educate Buffett about the crypto industry and its potential.
- TRX/USD has negative reaction to the news, as it fell from $0.0265 to $0.0242 this Tuesday.
Justin Sun, the CEO of TRON and BitTorrent was forced to cancel his lunch with Warren Buffett just three days ahead of the meeting due to sudden health complications. Dovey Wan, founding partner of Primitive Ventures, posted a screenshot of the announcement. A translation from of the message from Sun reads:
"Thanks to friends from all walks of life for their concerns, I was in a hospital for sudden kidney stones, and I canceled the lunch with Mr. Buffett. At present, the physical condition is all stable and in the recovery period. I cannot accept the interview. Please forgive me. After the recent physical recovery, you will soon meet the outside world. The donation to the Glide Foundation has been completed and is still valid."
A few hours after Sun's message, TRON Foundation officially announced that the lunch would be postponed. Justin Sun had won a charity auction with a bid of $4.57 million to have lunch with Buffett, who is known to be a Bitcoin skeptic.
Sun's high bid was prompted by his admiration for Buffet, whom he referred to as "one of the most accomplished American businessmen in history." He was also planning to present the potential of blockchain technology to Buffett. Sun told Forbes in an interview:
"I don't think we can convince him that all crypto and blockchain is good, but I hope he walks away knowing more about the industry and its potential."
In an interview with CNBC, Sun said that he would invite some of the popular names in crypto such as Ethereum co-founder Vitalik Buterin, Litecoin founder Charlie Lee and Binance CEO Changpeng Zhao. Zhao declined to attend, while Buterin didn't bother replying. Nevertheless, some renowned guests will be joining Sun and Buffett. CEO of Goldman Sachs-backed Circle, Jeremy Allaire confirmed that he'd be attending the lunch. Soon after this, Yoni Assia, CEO of eToro and Huobi CEO Livio Weng also confirmed their presence for the meet.
The market didn't have a favorable response to this news. TRX/USD fell from $0.0265 to $0.0242 this Tuesday, going down by 8.68%. During the day, TRX/USD crashed to a low of $0.022, from which it eventually recovered. As of writing, the TRX/USD has fallen further to $0.023.
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