Tron founder and BitTorrent CEO Justin Sun has publicly apologized to Chinese regulators for overmarketing his now-postponed lunch with legendary investor Warren Buffet in a Weibo post today.
Sun’s ‘Darkest Moment’
In a Weibo post which has since been deleted Sun stated that he’d booked a lunch with Buffet for $4.6 million because he respects the investor and “his love for charity”, and that he’d wanted to spread the word about blockchain technology.
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
Having postponed the event with Buffet due to falling ill with kidney stones, Sun apparently has deep regrets for overmarketing the event.
Sun admitted that he’d behaved immaturely and had spoken “without thinking twice.” As a result, things got out of control, leading to an unexpected outcome that 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.
Praising the Magazine That He Accused of Defamation
TRON’s founder also promised to introduce additional structure and development to the sector. He said that he would actively cooperate with regulators, seeking their guidance while doing 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, reported that the actual reason for postponing the much-anticipated lunch was that Sun had been barred from leaving China under suspicion of illegal fundraising, money laundering, and gambling.
After alleging that the report was 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 Sun, he will now focus on research and development of blockchain technology rather than promotion. TRON’s founder also promised the public that he would reduce his 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.
Featured image courtesy of Facebook.