Skip to main content

TRON DOWN 13% AFTER JUSTIN SUN POSTPONES LUNCH WITH WARREN BUFFETT




More than a month after the historic announcement that TRON’s founder Justin Sun had paid $4.6 million to charity to have dinner with Warren Buffett, it appears that the dinner has been postponed for an unfortunate reason. As reported by the TRON Foundation’s Twitter account, Justin Sun has fallen ill with kidney stones.



The Highly Anticipated Dinner with Warren Buffett :



Warren Buffett is known as one of the most successful investors of all time, but also as a person who doesn’t support crypto. Justin Sun’s dinner invitation had fascinated the crypto world a month ago, with all eyes turned to July 25th and Quince – a Michelin 3-star San Francisco restaurant.
The crypto community was anticipating the dinner even though no specific topics of discussion had been confirmed. In an interview for Bloomberg, however, Justin Sun stated that he’d wanted to try and convince the Oracle of Omaha on the merits of Bitcoin and cryptocurrencies in general. 

Unfortunately, Justin Sun has postponed the event due to a serious medical issue, namely kidney stones.




While a new official date has yet to be confirmed, all parties have agreed to postpone the event.

Before today’s announcement, Justin Sun had managed to secure an impressive lineup. Attendees were to include Litecoin’s founder Charlie Lee, Huobi’s Chris Lee, Circle’s Jeremy Allaire, and eToro CEO Yoni Assia.


TRON and BitTorrent Prices Decrease in Response


As Bitcoin and the rest of the main cryptocurrencies continue to swing downward, Tron and BitTorrent have suffered more substantial setbacks.
Following the announcement, TRX is down 13% in the last 24 hours. At the time of this writing, the cryptocurrency is trading at $0.025 and hasa market cap of around $1.66 billion.

However, Sun-owned BitTorrent also saw a sharp decrease of roughly 10%. BTT is currently trading at about $0.0009 and has a market cap of $190 million.

Comments

Post a Comment

Popular posts from this blog

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more

Legendary Rock Star Gene Simmons Buys Cardano (ADA) Worth $300,000

Famous rock star Gene Simmons continues his cryptocurrency adventure, this time investing $300,000 in Cardano (ADA). Gene Simmons, the legendary KISS bassist, has made another dip into cryptocurrencies. The famous musician has expressed his belief in Cardano, presuming 2021 would be “the most productive year” for the altcoin. Believing in the Future of Cardano Rock star Gene Klein, aka Gene Simmons, has appeared in online social media with yet another pro-cryptocurrency commentary. This time KISS’s legendary bass guitarist has expressed his opinion on Cardano and its native digital coin ADA. In his  recent publication  on Twitter, Simmons explained one of his fundamental personal reasons for  investing  and holding the altcoin. The musician pointed out that he believes in Cardano because of Hoskinson (Charles) – Cardano’s creator and co-founder of Ethereum. In his tweet, the musician expressed his trust in the altcoin hopping on Hoskinson’s envision that 2021 would b...
Post a Comment
Read more

South Korea Won’t Tax Cryptocurrency Profits, For Now

Good news for cryptocurrency traders in South Korea as profit generated from crypto trading will not be subjected to tax, according to a recent announcement from the country’s Ministry of Finance and Strategy. The Ministry clarified that the current tax law does not consider crypto trading gains as taxable income; thus, Korean crypto traders are not required to pay taxes on the profits they earn from crypto trading for the time being.  However, crypto traders in the country may not be exempted from taxation for a long time. An official of the Ministry said that the Ministry is aware of the loophole in the current tax law, and they are currently reviewing the regulations in major foreign countries so that they can amend theirs in an effective way. “The income tax law is only taxable on income listed as taxable. We are preparing a taxation plan for virtual assets by comprehensively reviewing the taxation of major countries, consistency with accounting standards, and trend...
Post a Comment
Read more