Tron founder Justin Sun broadcast a live video from San
Francisco to disprove reports that he was prevented from leaving China
due to a police investigation.
On July 23, Sun launched a live video
on Twitter to deny rumors that he was prevented from leaving China by
local authorities based on charges of money laundering, gambling and
spreading pornography.
Additionally, Sun posted
a picture with him and his “aka bodyguard” Cliff Edwards, the Tron
director of communications, with the Bay Bridge in the background.
Earlier today, local Chinese media outlet Caixin reported
that the Office of the Leading Group for the Special Campaign Against
Internet Financial Risks called on security organs to launch an
investigation into Sun. Per Caixin, Chinese law states that individuals
under investigation can be prevented from leaving the country for one
month to one year. The report states that, at the time of writing, Sun’s
whereabouts were unclear.
Investigation reports follow postponement of Sun’s lunch with Warren Buffett
The report follows an announcement
that Sun is rescheduling the long-discussed charity lunch with
Berkshire Hathaway CEO and renowned investor Warren Buffett. According
to a Tron Foundation tweet
on July 22, the relevant parties agreed to reschedule the meeting at a
later date as Sun had purportedly fallen ill with kidney stones.
The postponement came just a few days after Sun invited
more notable figures from the crypto industry to attend the lunch with
Buffett, including eToro founder Yoni Assia, the head of Binance Charity
Fund Helen Hai, as well as Jeremy Allaire, the CEO of crypto payments
firm Circle.
Tron price slightly recovers after Sun goes live on Twitter
Meanwhile, the Tron (TRX) price has reacted positively to the news, seeing a slight recovery after a major decline caused by the Chinese media reports. At press time, Tron is up about 2.27% over the past hour, while still seeing losses of over 13% on the day.
Tron 24-hour price chart. Source: Coin360
Earlier in July, the offices of a Tron affiliate in Beijing were surrounded by police as a crowd gathered to protest against a Chinese Ponzi scheme that operated under a Tron-like name.
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