The Sketchy Saga of Justin Sun
29 year-old Justin Sun, CEO of BitTorrent the file-sharing platform, and founder of Tron the cryptocurrency platform skipped a 4.6 million dollar luncheon with Warren Buffett the business magnate. Sun won the lunch meeting after bidding for and winning it during a charity event. The luncheon was set for July 26 and everything was a go until a mysterious message was sent via social media claiming that Sun was too ill to attend the meeting with Buffett that was set be held in San Francisco. Sun was reported to be suffering from kidney stones, however during the same day that the Buffett luncheon was supposed to take place, Sun was seen seemingly in full swing at a Tron held party in San Francisco the same city in which he was supposed to meet with Buffett.
Before the meeting was skipped Sun announced on social media that he had selected San Francisco’s Quince, a “three-Michelin starred restaurant in the historic Jackson Square,” for the Warren Buffett meal. After the skipped meeting a statement was released from Sun’s social media saying “because of my immature words, behavior, youth, and vigor, I spoke without thinking twice, It became a failing of over-marketing that was out of my control. It also generated a much-unexpected outcome on me.”
Sun who has previously been an outgoing, boastful, zealot who was extremely active on social media has since been cryptic in his speech and has released a statement stating that he will reduce his appearances in the media which is not characteristic of him at all. Sun has also repeatedly mentioned "regulators" during this time of mystery that is surrounding him. In regards to canceling the Warren Buffett meeting Sun shared "During the whole process, I went from being excited, to worried, agonized and then terrified and regretful. It led to a negative influence on the public and also drew concerns from regulators who care about me. Again I want to say: I am sorry.”
Sun has also been called out concerning his recent acquisition of BitTorrent with accusations that he hasn’t released the final payment for the acquisition in which Sun replied by saying "it has nothing to do with me". We have yet to see what will come of the final payment for BitTorrent because Sun is reportedly in hot water with the Chinese government. Sun is now under investigation for multiple crimes including money laundering, illegal fundraising, and pornographic transaction facilitation.
Justin Sun has been a loud voice in the crypto community albeit bumptious and excessive but if he is found guilty of the crimes that he is being accused of it will have a negative impact on the community. With Sun garnering so much attention for the community and being a huge advocate, him being found a criminal will shed a negative light on the community. Some government officials throughout various nations are already opposed to crypto alleging that cryptocurrency is used by criminals to commit crimes. If Justin Sun is found guilty of the crimes that he is accused of this will be a negative blow for the community and it will fuel naysayers into more negative beliefs and rhetoric.
I believe that Justin Sun is either personally guilty of or closely in connection with the crimes that he is being accused of because he has yet to prove that he is not. With all of the attention that Sun has on him, it is the most opportune time to prove or at least try to prove his innocence but he has not. Tron’s executive offices were recently raided by Chinese officials and several Tron executives were detained before being released and now Sun is reportedly being barred from leaving China. The meeting with Buffett is postponed indefinitely and we have yet to see what the future holds for Justin Sun, Tron, and BitTorrent.
I can say without a sliver of guilt that i despise everything and anything associated with TRON. (except Steemmonsters).
The fabricated and unwarranted hype surrounding d it, Justin, BTT and all the hundreds of gambling pyramid scheme shittokens.
TRON is a giant junk filled dapp platform having 70 of the top 100 dapps being gambling dapps with unsustainable business models that are designed to cheat people out of their money. Not only that but you could call crypto gambling illegal as well since it is not regulated and most times you have no idea who is behind the dapp making users wide open to exit scams with dapp owners having 0 responsibility towards the user.
BTT on the other side is even worse. A stupid system lacking a sound token economy making the tokens usability and real value extremely low.
With that its a pure piracy funding token which is why it will never get any kind of attention from mainstream investors.
Who in their right mind would put money in a token when they know that almost all, if not all traffic comes from illegal activity of piracy?
Only crypto investors will put money into this and crypto wants mainstream attention.
So down with Tron.
To be honest, when people panicking and many crypto personas (on Crypto Twitter) spreading 'bad news' mentioning Justin being grounded and locked in China by the govt, I don't buy it.
And after I saw what happened in the market, I understand why they did it.
After all, this is crypto, and what do you expect from people? They're just being people.
Yes, there is definitely manipulation in the market and people will be people, however, I do believe that Sun is in hot water with the Chinese government and I'm highly interested in seeing how this will all play out. Hopefully, I will get to do a follow-up.
Yes, we should see this coming.
China government suddenly turn it's face towards Bitcoin, lifting bans and starting to educate their people about crypto.
I can't wait to see how the outcome of this maneuver!
Oh wow really? This should be good!
The Shenzen Court of International Arbitration was quoted as saying;
“Chinese court confirms Bitcoin is protected by law. Shenzhen Court of International Arbitration ruled a case involving cryptos. Inside the verdict: CN law does not forbid owning & transferring bitcoin, which should be protected by law because of its property nature and economic value.”
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Exactly, I couldn't believe my ears when I heard that news. I believe that the Chinese government is a holder of Bitcoin.
Well, it's not a secret that huge mining farms located in Mainland China, even the very mining rigs are produced by themselves.
But, people still too easy to sprayed by FUD, and sometimes they forget about that facts.
Furthermore, rumor has it that the chinese gov, is not happy with the sun-buffet lunch and his promotions of it, in regards to the tension between china and the US. Now, taking that in consideration, and the recent news that you mentioned before, it could be, that the chinese gov, is finally seeing what a huge extra opportunity crypto is in their efforts to ditch the petrodollar. Time will tell, but all this spreading of accusations and fear (like the article does) is not really in the best interest of crypto as a whole, this is imho being done by the people that join the bandwagon to make a quick buck, not by the true believers.
true!
and I believe, people will eventually see this thing clearly.
Crypto space are maturing, countries and institutions alike are on their move.
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How does anyone still think that things like money laundering are crimes? Governments and their pet corporations are the greatest money launderers in this world. Whatever Mr. Sun may have done, it's probably not even a rounding error compared to the laundering done by, oh, pick your bank. HSBC maybe?
JP Morgan maybe?
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"I believe that Justin Sun is either personally guilty of or closely in connection with the crimes that he is being accused of because he has yet to prove that he is not"
The last time I checked a person is innocent until proven guilty in America. Obviously that isn't the case in China but I think ideally we can all agree that statements like this aren't helpful. Personally I think he became too big a target for the Chinese government and he had to be silenced/punished (much like Fan Bingbing). Causing him to miss a much publicized meeting with Buffett but portraying him as being in the US seems like a pretty spot on way to hurt his reputation and keep him in line.
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I'm not defending the chinese government here, but saying Justin Sun has been silenced is a bit exaggerated.
Guess who's growing up? 🤔
Maybe he realized he needs to be better or someone told him to back out and blackmailed him or something. 🤔
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