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

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...

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...

IN THE NEW DECADE, CRYPTO WILL BECOME ESSENTIAL LIKE EMAIL: SAYS TYLER WINKLEVOSS

It’s the start of a new decade, and industry famous twin Tyler Winklevoss, the co-founder, and CEO of cryptocurrency exchange and custodian company Gemini Trust, has shared his views on what the next ten years hold for crypto. According to Winklevoss, crypto is already becoming more than a niche technology and a form of money, and it will play an essential role in our daily life in the foreseeable future. “Today, crypto is still a niche technology and a form of money. It is not crucial to your everyday life the way email and other web applications are, but our thesis is that this will change — it’s already changing if you look close enough,” Winklevoss wrote. Winklevoss added that the decentralized nature of cryptocurrencies, which empowers individuals, will be the driving force within the new decade. Crypto will not only redesign the internet but will also redesign the financial and monetary systems to protect the rights and dignity of users, he said. The Winklevos...