En­tre­pre­neur cancels lunch with Buf­fett, denies re­ports of il­le­gal fundrais­ing

Global Times US Edition - - BIZUPDATE -

Chi­nese blockchain en­tre­pre­neur Sun Yuchen, who can­celed a char­ity lunch with US fi­nancier War­ren Buf­fett on Tuesday morn­ing, de­nied me­dia re­ports that he was in­volved in il­le­gal fundrais­ing and money laun­der­ing.

Sun said on his Weibo ac­count that re­ports con­cern­ing his il­le­gal fundrais­ing and money-laun­der­ing are un­true. He af­firmed that his busi­ness, TRON, has com­plied with Chi­nese laws and reg­u­la­tions.

Sun’s can­cel­la­tion of the lunch with Buf­fett sparked heated dis­cus­sion on­line, as most ne­ti­zens ques­tioned whether Sun had used this excuse for per­sonal hype and mar­ket­ing of his busi­ness.

Sun said on his Weibo ac­count on Tuesday that his meet­ing with Buf­fett was can­celed due to a sud­den at­tack of kid­ney stones that he suf­fered.

“[I am] re­ceiv­ing treat­ment in a hospital and am in sta­ble condition (now) and re­cov­er­ing,” said Sun, who de­clined any me­dia in­ter­views. He said that he would make a state­ment to the pub­lic af­ter he was re­leased from the hospital.

The an­nual lun­cheon auc­tion with fi­nancier Buf­fett raises money for the San Fran­cisco-based char­ity Glide Foundation.

Sun said on his Weibo ac­count that his do­na­tion to Glide was com­pleted.

In early June, Sun won an an­nual char­ity auc­tion to have lunch with Buf­fett via a $4.6 mil­lion bid — a record high. The highly an­tic­i­pated meet­ing was sched­uled to take place in San Fran­cisco on Thursday.

Sun, the 28-year-old founder of blockchain plat­form TRON, “fell ill with kid­ney stones,” the Tron Foundation said on its Twit­ter ac­count on Tuesday morn­ing, not­ing that “rel­e­vant par­ties agreed to resched­ule at a later date.”

Some Chi­nese ne­ti­zens ex­pressed con­cern for Sun and said that noth­ing is more vi­tal than per­sonal health.

But many raised doubts, ques­tion­ing whether the excuse was just a new form of hype from Sun, who is known to be good at mar­ket­ing. “Sun has suc­cess­fully cre­ated big news ... the first man to break an appointmen­t with Buf­fett,” a ne­ti­zen named Tusdt said on Weibo.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.