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Buffett Lunch Winner’s Crypto Coin Drops After Meeting Delay

  • Tron founder Justin Sun does livestream from San Francisco
  • Digital token pares losses after Sun downplays speculation
Warren Buffett
Warren BuffettPhotographer: Daniel Acker/Bloomberg
Updated on

Cryptocurrency entrepreneur Justin Sun proved that volatility is one of the few things you can count on in the digital-asset market after postponing his charity lunch meeting with Warren Buffett while citing a bout of kidney stones.

The announcement helped send the price of digital token known as Tron that Sun founded down as much as 21% amid a frenzy of speculation on Twitter and in Chinese social media. Various posts and articles claimed that Sun has been denied an exit visa from China, and that the 29-year-old is the subject of investigations for everything from illegal fundraising to money laundering.