TRX Plummets 10% As Highly Anticipated Lunch With Billionaire Warren Buffett Is Postponed

Predicting Tron's Future: Should You Stay Away From TRX In 2019?

On July 22nd, 2019, TRON Foundation announced via a tweet that the highly anticipated lunch with Warren Buffett has been postponed due to TRON’s CEO Justin Sun unfortunate ailment, kidney stones.

This official announcement comes after Justin Sun communicated in native Chinese with his Weibo followers confirming he was indeed in the hospital due to kidney stones, therefore, he had to cancel the luncheon, as stated by Dovey Wan, the founding partner of Primitive Ventures and Chinese cryptocurrency markets maestro. Sun added that he is currently in a stable condition and is recovering well. Justin’s translated Weibo update read;

“Dear friends,

Thanks to friends from all walks of life for their concern, I was in the hospital for sudden kidney stones, and I canceled the lunch with Mr. Buffet. At present, the physical condition is all stable and in the recovery period. I cannot accept the interview. Please forgive me. After the recent physical recovery, you will soon meet the outside world”

Details About The Lunch Previously Confirmed 

The over $4.5 million lunch had been scheduled for Thursday 25th July. With the recent postponement, TRON Foundation didn’t give an exact date citing “a later date”. The tweet read;

“TRON Foundation announces postponement of Warren Buffet lunch, press conferences after founder Justin Sun falls ill with kidney stones. Parties agreed to reschedule at a later date,”

Prior to this postponement, you might recall that Justin changed the venue of the lunch from the Smith & Wollensky in New York to Quince in San Francisco.

As of Monday, Litecoin Creator Charlie Lee, eToro’s Yoni Assia, Huobi’s CEO Livio Weng, Circle’s CEO Jeremy Allaire and Helen Haiyu, Head of BinanceBCF had accepted Justin’s invitation to the lunch while Changpeng Zhao, Binance CEO passed up the invitation to attend the lunch suggesting Anthony Pompliano to attend the lunch in his place.

The exact details entailing the topics of discussion during the lunch have not been publicized yet, but Justin and his friends hoped to change the mind of the billionaire investor, Warren, who in the past has openly criticized bitcoin and cryptocurrency terming cryptocurrency as “an asset that creates nothing” while referring to bitcoin as “rat poison”.

Tron (TRX) Price Plunges By 10% Following This Announcement

Alex Kruger, popular analyst, and trader noted that after this announcement, the price of TRX saw an 8% drop. He tweeted;

“$TRX down 8% in minutes after Justin Sun cancels his Warren Buffet Lunch. Only in crypto.” 

At press time, TRX, 10th largest crypto by market cap has shed over 10% and is trading at $0.025764 as per market data from CoinGecko. TRX has a market capitalization of $1.77 B with a 24-hour volume of $614.7 M.

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