Tron founder and BitTorrent CEO Justin Sun has publicly apologized to Chinese regulators for overmarketing his now postponed lunch with investor legend Warren Buffet in a Weibo post today.
Sun’s ‘Darkest Moment’
In a Weibo post, which has since been deleted, Sun stated that he booked a lunch with Buffet for $4.6 million because he respects the investor and “his love for charity”, and he wanted to spread the word about blockchain.
Update 3: Justin Sun apologizes for the over-marketing, expresses his respect to Caixin founder and Sogou CEO, promises he will cooperate with regulators, and reduce marketing hype to focus on blockchain R&D. pic.twitter.com/69xic65ajB
— cnLedger (@cnLedger) July 24, 2019
As Sun postponed the event with Buffet due to falling ill with kidney stones, he apparently has deep regrets for overmarketing the event.
Sun admitted that he behaved immaturely and spoke “without thinking twice.” Due to that, things were getting out of his control, creating an unexpected outcome that has had a negative outcome on the society and has attracted the “scrutiny” of regulators.
Dear Friends, In the past few weeks, I had my darkest moment with sickness and tiredness. I suffered the biggest drama ever in my life from people’s doubting and questioning. I didn’t sleep all night yesterday, and deeply reflected on my memories and was introspective for my behavior and words—I felt ashamed for my over-marketing. I want to deeply apologize to the public, media, leaders, and the related regulatory authority who cared about me. – a rough translation of Sun’s post reads.
Praising The Magazine That He Accused of Defamation
On another note, the founder of TRON also said that he is going to introduce structure, as well as industry development to the sector. He said that he’s going to actively cooperate with the regulators, seeking their guidance, while also making sure that he will do his “utmost” to satisfy them.
Oddly enough, his statements come shortly after Chinese media outlet Caixin, citing a report by China’s 21st Century Business Herald, said that the actual reason for postponing the much-anticipated lunch with Warren Buffett was because Sun was barred from leaving China under suspicions of illegal fundraising, money laundering, and gambling.
After he accused Caixin that the statements are untrue, he now seems to be praising the magazine, saying that he has learned a lot from it since his college years.
Caixin continues to uphold the public interest of [Chinese] social responsibility. My priority, to let me see my limitations and smallness. I am sincere and fearful to communicate with Caixin. – He stated.
From marketing hype to true blockchain technology
According to his statements, Sun will now focus on research and development of blockchain technology, rather than over-promoting. TRON’s founder also promised the public that he reduce his social activity on Weibo in an attempt to repair his “shortcomings”.
All of these are based on national interests, industry interests, and public interests. They abandon the selfishness of the self, actively rectify and abide by the law, export more positive energy for the development of the blockchain industry, do more for in-depth thinking, and establish a better social role model for the contemporary youth. – Sun stated.
Featured Image courtesy of Facebook.
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