The price of the Tron (TRX) cryptocurrency is in the latest altcoin news for its decline after the founder of the coin, Justin Sun, has rescheduled the lunch with one of the richest people in the world, Warren Buffett. The Tron price tumbles as we speak.
The day-to-day Tron prices are now down by almost 14% at the time of writing, trimming the weekly gains to a close zero. In the coming altcoin news, other major coins from the top 10 by market capitalization are registering losses of up to 6% today.
The Tron price tumbles after the cryptocurrency foundation announced the reason for the rescheduled lunch – which seems to be the founder of the cryptocurrency Justin Sun and his apparent illness. The foundation also stated that “lunch and press conferences” had been put on hold after Sun had “fallen ill with kidney stones.” Tron confirmed that Buffett and Sun had “agreed to reschedule at a later date.”
TRON Foundation announces postponement of Warren Buffett lunch, press conferences after founder Justin Sun falls ill with kidney stones. Parties agreed to reschedule at a later date. @GLIDEsf @WarrenBuffett
— TRON Foundation (@Tronfoundation) July 22, 2019
The lunch meeting with Buffett was a hot topic on many best cryptocurrency news sites – and was seen as something that was organized after Sun paid $4.6 million at a charity auction. This impressed Buffett, who was once a crypto pessimist, to explore the topic on TRON and Justin Sun’s goals. However, the Tron price tumbles as a result of the delayed lunch.
Meanwhile, an unsourced and unconfirmed report in the Chinese media speculated that Sun postponed the lunch because he was not able to leave China due to various accusations (including illegal fundraising via Tron). Still, this has not been confirmed and Sun responded through his Weibo account to deny the allegations made by the 21st Century Business Herald.
“The illegal fundraise accusation is wrong. Tron complied with regulators and refunded investors on Sept. 20 in 2017, immediately after the order [of a ban on initial coin offerings] from seven ministries in China,” he said (translated).
The Tron price tumbles as we speak, again proving that everything can affect the price of crypto and again showing volatility just like the other coins in the latest cryptocurrency news. Currently, TRX sits at $0.024 with a 16% loss on the day.
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