Why was the $4.6 million lunch between Justin Sun and Buffett postponed?

Crypto ‘Crime-as-a-Service’ shut down in Spain for money laundering

Just in the beginning of June 2019, Leaprate reported on the incredible $4.6 million-lunch between Justin Sun, the the CEO of BitTorrent and the founder of TRON, and the Wizard of Omaha, or simply Warren Buffett.

Justin Sun entered a bid for the lunch and won it. Warren Buffet has been known to hold auction for various charitable causes. The billionaire investor has also commented that he does not believe in the merits of cryptocurrencies, but that he is interested in technology and merits of blockchain.

However, as the crypto community got excited over the news of the upcoming lunch, the meeting fell off. Justin Sun cited health problems and postponed the lunch with Warren Buffett. The news, however, gave rise to numerous speculations that his company is under pressure.

Sun admitted he acted in a childish manner by postponing the lunch, while heavily advertising it everywhere:

It has produced a lot of consequences that I completely did not expect.

Some of rumours stemming from the news is that he was denied an exit visa from China to enter the US and that his creation, the digital coin Tron, was under investigation.

The price of Tron decreased dramatically after the lunch was postponed, losing around 17% of its market value in a week. Sun was hoping to “educate” Buffett on the merits of digital coins and expand the industry’s appeal to the Wizard of Omaha. There is no clarity what will follow next.

Read Also: