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Home / Business / Crypto investor Justin Sun postpones lunch with Warren Buffett, indicating he is not being detained in China

Crypto investor Justin Sun postpones lunch with Warren Buffett, indicating he is not being detained in China



Cryptocurrency investor Justin Sun, bidding $ 4.5 million on a charity auction last month for lunch with billionaire Warren Buffett, canceled the meeting and posted photos that conflict with reports that he was arrested by Chinese authorities.

Sun, founder of Tron cryptocurrency and CEO of BitTorrent, was to have a private lunch with Buffett, a well-known crypto skeptic, in San Francisco on Wednesday. But on Monday night, Sun's Tron Foundation on Twitter announced that the meeting had been postponed, saying that Sun had become ill with kidney stones, with both parties agreeing to change at a later date.

Then things took a strange turn.

Early Tuesday, the Chinese media outlets reported Caixin that Sun, a Chinese citizen, actually canceled because he was prevented from leaving China, citing a report from China's 21

st Century Business Herald stating that he was arrested there and under investigation for illegal collection , money laundering, gambling and the spread of pornography.

Sun quickly denied the report in a post on the Chinese website Weibo, as well as the concrete accusations, and said it was "not true" that his company was involved in illegal behavior, according to a Google translation.

Regarding the location, Sun apparently tweeted pictures of himself apparently in San Francisco, as well as a nine-minute live Periscope video where the city's Bay B hill can be clearly seen in the background.

"Yes, I feel better," Sun said in the video, where he did not mention the report that said he was limited to leaving China.

In the midst of the confusion, Sun's cryptocurrency Tron plunged as much as 16% on Tuesday, even though the price picked up after his video stream, and last was down 11% for the day. Tron is the world's 10th largest cryptocurrency after market capital, according to Coinmarketcap.com, valued at around $ 1.6 billion.

It is unclear when Sun and Buffett will finally meet, but the Oracle of Omaha – who once called bitcoin "square rat poison" – can become ear-like when it happens. Sun tweeted earlier this week that he had invited a handful of remarkable characters from the crypto industry to join him at lunch.


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