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Justin Sun Invites President Trump For His Lunch With Warren Buffet

Justin Sun Trump Warren

The
co-founder of Tron, Justin Sun, has invited the president of the United States,
Donald Trump, for lunch where he would interact with notable figures in the
cryptocurrency space and perhaps try to convince Warren Buffet otherwise.

Sun’s
invitation stems from Trumps Twitter post. On the social media platform, the US
president said:

“I am not a fan of Bitcoin and other cryptocurrencies which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activities.”

In
his reply, Sun invited Trump to have lunch with
Warren Buffett among other leaders from both traditional and crypto circles.

“Mr. President, you are misled by fake news. Bitcoin & blockchain happens to be the best chance for the US! I’d love to invite you to have lunch with crypto leaders along with Warren Buffett on July 25. I guarantee you after this lunch; nobody will know crypto more than you.”

Not Too Old To Learn

The crypto community rallied around Justin’s suggestion noting that the president is “never too old to learn new things” even though Trump is 44 years older than Justin.

Unfortunately,
not everyone is on Sun’s side. Some agree with Trump, arguing that “crypto and no
regulations is pretty bullshit. Like how can an exchange lose 40M a month ago
and somehow everyone has moved on? This is peoples’ money we’re talking about.
If it was a bank, we’d still be talking about it.”

Apart
from taking on Bitcoin, Trump had bashed Facebook’s crypto project, Libra. In
his view, Facebook will need to seek a banking charter before it launches its
Libra token.

On
Libra, Trump said:

“If Facebook and other companies want to become a bank, they must seek a new banking charter and become subject to all banking regulations.”

Central Bank Chiefs Are Against Libra

Interestingly, since details about Libra were made public, notable central bank heads have been against Facebook’s move to develop a virtual currency. For example, the head of the Federal Reserve, Jerome Powell, said that there are “serious concerns” about Libra that may necessitate a probe into the project.

Some of Jerome’s concerns included Libra being used to facilitate money laundering, how it would impact the financial sector, how it would tackle privacy, and how Facebook would ensure consumers are protected.

Other central bank chiefs and government officials who have criticized Facebook’s Libra project include Mark Carney, the governor of the Bank of England and Bruno Le Maire, France’s Finance Minister.

Bitcoin Is a Store of Value

Luckily,
even though Powell has some reservations concerning Facebook’s crypto plans, he
holds Bitcoin with the same respect as Gold.

While speaking before the Senate Banking Committee, Powell said that Bitcoin is being less utilized as a form of money and heavily being used “as an alternative to gold.”

This is not the first time the Fed chair is campaigning for Bitcoin. In the past, he has been alluding that the United States should cut ties with gold and embrace Bitcoin.

However,
his Bitcoin support was interpreted differently in the crypto space. For
instance, a Twitter user said:

“Fed Chair says Bitcoin is a store of value, and will never go back to gold standard – he is literally saying drop gold – he should be in [the] drop gold campaign commercial.”

Others
urged Trump to fire Powell since the US is “headed
towards bankruptcy,” and “can’t prolong the inevitable. Buy BTC America. We
broke.”

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Trump Bitcoin Takedown To Provide Unintended Price Support For Crypto

donald trump bitcoin

Is there a Trump rally incoming for bitcoin?

That’s what’s on the minds of many after US president Donald Trump tweeted on Thursday that he was “not a fan of bitcoin and other cryptocurrencies”.

Although Trump is loved by many he is arguably hated in at least equal measure at home and possibly hundreds of millions more around the globe.

So could the Trump take down of bitcoin push those inclined
to look favourably on anything that Trump doesn’t like, bring a net boost to
the price of bitcoin?

His strident comments may have surprised some but that probably depends on your politics, or at any rate what you think Trump’s politics are.

Trump is fairly certain that cryptocurrencies “are not money”,
noting that they are “highly volatile and based on thin air”.

That’s wrong in so many ways but we needn’t bother to provide more well-worn rebuttals for EWN readers.

however, it is worthy or recalling that his tweets come hard on the heels of Fed chairman Jerome Powell accepting that bitcoin has a use case as a store of value similar to gold.

Unlike Trump, Powell also has the foresight and historical perspective to appreciate that nothing lasts forever when he was considering the current role of the US dollar as the world’s reserve currency of choice.

It is against this background perhaps – and the question of how to deal with Facebook’s Libra – that Trump’s attitude should be measured.

Where the Fed chairman goes, Trump is often tempted to go in
the opposite direction.

Libra – get a bank licence says Trump

And Donald and Mark (Zuckerberg) aren’t exactly buddies either. Trump made that clear in his demand that Facebook go get a banking licence before it launches Libra.

“If Facebook and other companies want to become a bank, they
must seek a new Banking Charter and become subject to all Banking Regulations,
just like other Banks, both National and International,” said the US president.

Powell, in coordination with other central bankers, is determined that Libra does not see the light of day until regulations that adequately address the perceived risks it conjures up are firmly in place.

Trump – a nationalist who doesn’t like “global money” unless it’s the US dollar

Perhaps it is not surprising that Trump’s economic nationalism has outweighed the hopes of those libertarians who lean right.

Although Trump’s thoughts to date on the US dollar have been contradictory as to whether he wants a strong or weak dollar, he does want the US’s preeminent position in the global  financial system to be maintained.

With that objective in mind, the dollar has to be protected from all comers, and that includes bitcoin, Libra and any other potential challengers it would seem.

Although Obama made references of a negative kind about crypto with his “Swiss bank account in your pocket” remark, which was interpreted as a reference to bitcoin, this is the first time a US president has explicitly discussed bitcoin. That matters.

Crypto market takes Trump in its stride – will his remarks support bitcoin price?

The market did not immediately react in an adverse fashion to Trump’s observations, and the price of bitcoin has actually appreciated since then.

In other times, such a high-powered individual throwing sand
in the face of crypto would have triggered a price plunge. Indeed, Powell’s
recent remarks were cited by some as the reason for the recent pullback from
$13,000 by bitcoin.

In fact, far from being a negative for bitcoin, Trump’s tweets may help to support the price.

Bitcoin was priced at around $11,500 when Trump made his tweet on Thursday night and is $200 higher at the time of writing, trading at $11,725 on Coinbase.

That’s not a significant move by bitcoin standards, but it does show resilience in the face of political pressures.

BTCUSD 12-hour chart 12 July
BTCUSD 12-hour candles on Coinbase, 12 July (Chart courtesy TradingView)

Trump tweet a great advert for bitcoin

More than that though, Trump’s tweet has led to headlines
around the world as the mainstream media picks up on the latest pronouncements
from the Oval office.

If nothing else it further raises the profile of bitcoin and
crypto.

But more than that, it will get people asking “what are they worried about?”.

If the dollar is so “dependable” and “reliable”, as Trump would
have it, what’s there to worry about? If crypto is so useless, why worry about
Libra?

Unwittingly, Trump has just provided bitcoin with the sort of advert money (crypto or fiat) can’t buy.

If The Donald wants to get up to speed with the real deal on crypto, Tron’s Justin Sun has reached out with an invite to join him for lunch with Warren Buffett:

And if the president doesn’t have time for that, perhaps he should dwell on the fact that since his presidency began the dollar index is down -4% and bitcoin has returned 1,186%.


Image: Courtesy Fickr, Gage Skidmore

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No, Tron (TRX) Did Not Get Raided by Chinese Police

Tron Bombarded by Angry Scam Victims

Earlier today, video footage appearance on Twitter of police at the Chinese office of Tron (TRX), Justin Sun’s brainchild. Upon the propagation of this video, rumors began to mount that the crypto startup was under investigation and that individuals had been arrested.

Countless cryptocurrency investors “memed” the situation, joking about how it may result in Warren Buffett pulling his RSVP to the $4.5 million charity lunch. Others posted photoshopped images of Tron’s Sun behind bars.

According to a number of individuals on Twitter that translated the video, Tron is not, in fact, under investigation or being raided by local authorities. The police are there to protect Tron, not attack it, from a group of angry locals that were swindled by a Ponzi scheme alleging to be affiliated with the startup.

Over the course of a number of months, a project piggybacking off Tron’s success is reported to have stolen over $30 million from local investors. Known as “Wave Field Super Community”, the firm claimed to be a Super Representative, meaning a leading node, of the Tron blockchain, managing to secure funding from many, likely thousands of investors.

The thing is, Justin Sun, the chief executive of Tron and a known Chinese entrepreneur, failed to disassociate and discredit Wave Field, which happens to be the Chinese name of Tron. This scam was so damaging that it has been reported that a Chinese single mother committed suicide after the scam collapsed, leaving a debt unpaid. Those visiting Tron’s offices are presumably those that siphoned capital into the scam.

Some have claimed that this protest of sorts is entirely illogical. As popular crypto trader Jacob Canfield remarks, blaming Tron for having been mentioned by a scammer is “like blaming Bitcoin for investing in Bitconnect“.

Ponzi Schemes Back on The Rise

This odd debacle comes as pyramid schemes have begun to grace the cryptocurrency industry once again.

Reported by The Times of India last week, the Criminal Investigation Department (CID) of India has taken custody of four individuals. They are alleged of creating a cryptocurrency called “KBC Coin”, a project which earlier promised an investment return of over 10,000% within a short time period.

The CID claims that KBC Coin was marketed exactly like a classic pyramid scheme, touting a multi-level reward mechanism that rewarded those that took the plunge early and managed to draw others into the “business”. It is unclear how much capital KBC Coin’s founders managed to swindle.

And in South Africa, “thousands” have, according to The Next Web, been duped into investing in a cryptocurrency Ponzi scheme that was purportedly generating over $130,000 a day.

Photo by ev on Unsplash

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Litecoin’s Charlie Lee Agrees to Meet with Warren Buffett, Tron CEO Sun

Litecoin Founder Attending Lunch With Billionaire Buffett & Tron CEO

At last, it seems Tron chief executive Justin Sun has his first confirmed RSVP to the four-million-dollar lunch with Warren Buffett. Announced today via Twitter, Charlie Lee, the founder of Litecoin (LTC) and a former employee of both Google and Coinbase, will be attending the lunch, slated to take place in about two weeks at an undisclosed location in the Bay Area, presumably a nice steakhouse (or a place serving avocado toast) — something to wow the investor dubbed the “Oracle of Omaha”.

In a tweet, Lee, a long-time Bitcoin supporter, explains that he is “excited about this opportunity to meet a legend.” It is believed that Lee mainly lives in California, meaning that he shouldn’t need to travel far to attend the star-studded event. Lee is the first guest that Sun has been able to confirm an RSVP. The Tron founder previously invited Changpeng “CZ” Zhao of Binance, whom he is close friends and business partners with, but Zhao denied due to availability concerns.

This news comes after Sun, the enigmatic mind behind Tron, BitTorrent, and other entrepreneurial ventures, ventured on Twitter that he would try and invite legends in the cryptosphere.

Interestingly, Lee didn’t make it to the lists of guests proposed by industry pundits. As reported by Ethereum World News, Anthony Pompliano, known for his incessant use of “Long Bitcoin, short the bankers”, explained that Andreas Antonopoulos, analyst/economist Murad Mahmudov, the SEC’s Hester Pierce, Fidelity’s Abigail Johnson, former Wall Street banker Caitlin Long, CZ, and Vijay Boyapati would be a “dream team” for the lunch to convince “Buffett of Bitcoin’s future potential.”

Such a team, known for their revolutionary thoughts about BTC and their clout on Wall Street and in other arenas, would likely give Buffett a bit more to think about Bitcoin than “rat poison”.

It isn’t clear who else Sun has invited, but they likely include the founders of other prominent cryptocurrencies and startups in the sphere. Maybe he even tried to shoot an email or encrypted line to Satoshi Nakamoto.

Is Buffett’s Opinion Worth Fighting For?

Should we really try and convince Buffett of Bitcoin’s future, though? As Ethereum World News suggested, in a previous report, it’s actually not too much of a worry that the billionaire investor is skeptical of the crypto asset industry.

Buffett might even be a lost cause. Wences Casares, the chief executive of Xapo that is best known for convincing many execs on Silicon Valley and Wall Street to look into Bitcoin, wrote that he tried to talk to the American investor twice, but failed each time.

We will have to see.

Photo by Sander Dalhuisen on Unsplash

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Tron (TRX) Gains Massive Exposure Ahead of Justin Sun’s Lunch With Warren Buffett. Sun Beats Satoshi Nakamoto in Google Trends

Justin Sun -the founder of Tron (TRX)- has been labeled in many different ways by the community. From genius to conman, there have been many opinions as to whether this young man’s influence on the ecosystem has been positive or detrimental, but if there is one thing practically everyone recognizes, it is that Sun’s ability for public relations seems to be innate and exceptional.

His last stunt was to offer nearly $5 million in an auction to share a lunch with Warren Buffett. Although the money will be donated to charity, the business opportunity seems to be worth it (and is, apparently, already bearing fruit).

How a Meal Introduced Tron (TRX) to a Massive New Audience

The famous investor is having a luch with Justin Sun, founder of Tron (TRX)
Warren Buffett
courtesy: Wikipedia

Warren Buffett is known for his success in the money market, but also for his aversion to cryptocurrencies. On previous occasions, he has called them “poison,” “a delusion” and has been skeptical about the benefits that crypto adoption could deliver to the world of finances.

However, Justin Sun did not miss the opportunity to “invest” those 4.5 million in a lunch that maybe won’t change Warren’s mind but has certainly given the Tron ecosystem (TRX) a massive exposure to a conglomerate of users who may not be familiar with cryptocurrencies.

The interest in “Justin Sun” skyrocketed in Google Trends, reaching historical peaks. Now Justin not only is the crypto-personality with more Twitter followers but also the most searched of all blockchain project leaders.

Similarly, “Tron TRX” has also experienced a sudden increase in the community’s interest, surpassing even the searches on Bitcoin, Ethereum, Ripple and Bitcoin Cash, all of which have a higher marketcap.

Tron / Wall Street or Sun / Buffet: A Meal that Caused Mixed Reactions

Paying so much money to share a meal with a man who practically despises the industry was a decision that did not go unnoticed in the community. Many social media users presented their views, criticizing or praising Justin Sun according to their personal appreciations.

Among those who think that this meeting could generate positive results are people like Misha Lederman, Max Keiser, and Ran NeuNer, who think that Justin Sun had a great idea and that strategically could benefit not only the TRX ecosystem but the crypto market in general:

However, not everyone has an optimistic view of this event. Whale Panda, Crypt_Bobby, Moon Overlord think Justin Sun will generate a negative image of the ecosystem:

The post Tron (TRX) Gains Massive Exposure Ahead of Justin Sun’s Lunch With Warren Buffett. Sun Beats Satoshi Nakamoto in Google Trends appeared first on Ethereum World News.

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Kaiko Now Supports TRX And BTT Real-Time Crypto Market Data

Kaiko Tron BTT

The Kaiko exchange has listed the options of TRX and BTT among its trading pairs going forward. This is a great pick up for Tron (TRX) as it gives the coin more visibility in the markets.

Notably, Kaiko is an excellent
provider of institutional grade market data on all matters crypto. As such, it
is a place that investors frequent to get to know of the latest market trends.
Therefore, this listing is a positive development in Tron’s attempts to have a
bigger presence in the competitive crypto markets.

Similarly, BitTorrent coin (BTT) will have a bump from this news.  Tron issues this coin as well and it has been on the markets since early this year. The coin aims to tokenize the BitTorrent decentralized file-sharing protocol and allow content creators to connect to audiences lucratively. Accordingly, this Token would make this platform better while maintaining its decentralization.

Justin Sun Meeting with Warren Buffet

 Tron founder Justin Sun is obviously a big personality in crypto-sphere. At the young age of 28, he is the founder of Tron and CEO of BitTorrent. These are obviously both impressive by any stretch of the imagination. He recently caused a stir when he paid Berkshire Hathaway investment chair Warren Buffet a staggering $4.56 million to secure a lunch meeting.

This took many in the coin community by surprise because Buffet is a notable critic of crypto.  Buffet, though more receptive to blockchain, has consistently bashed crypto. Talking to CNBC, the veteran Investor said:

“(Bitcoin) It’s a gambling device…there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it, it doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me.”

The actual meeting is in the form of a charity auction for a meeting with the investor billionaire held annually. Sun outbid other Wall Street and Silicon Valley competitors to secure the meet. It goes without saying that Sun will have a hard time convincing the seasoned investor to be positive on crypto. Buffet has in the past even called Bitcoin “rat poison” during the bull run of 2017 because he is wary of investments without a tangible product.

However, he can aptly point out to Buffet his failure to get on board other technological waves earlier. This is because Buffet did not endorse Amazon or Apple earlier.  That said, these companies did not have nearly the same amount of volatility typical with crypto. The outcome of this meeting is likely to go one way but who knows? Justin could have something secret up his sleeve that we’ll get to see.

Tron Going Forward

Whether for publicity or actual investment value, this meeting definitely signals intent moving forward.  Justin Sun is an aggressive marketer and this is true for the rest of the organization. The platform can offer utility and entrench decentralization in this space.

Some may laugh off the meeting but the
effect on prices was immediate. In the volatile world of crypto, having a
charismatic leader with a prominent presence can be essential. Justin is a guy
who has demonstrated the willingness to innovate and adapt to keep the company
relevant and growing. This bodes well for the company going forward in such a
competitive market.

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Tron’s CEO Can Bring Seven to Bitcoin Cynic Buffett’s Lunch: Who to Bring?

Bitcoin Hater Buffett To Endure Lunch With To-Be-Named Crypto Boosters

On Monday, crypto history was made when Bitcoin hater Warren Buffett was revealed to be having lunch with Tron’s Justin Sun. For those who missed the memo, Sun managed to outbid all of Wall Street and Silicon Valley in an auction for the investor billionaire’s upcoming charity lunch, auctioned off on eBay. The Chinese technology entrepreneur, best known in the cryptocurrency space for launching the Tron blockchain and acquiring BitTorrent, paid a jaw-dropping $4.57 million.

With this lunch, Sun hopes to entice Buffett to look deeper into blockchain technologies and digital assets. The Tron founder also hopes to “get valuable tips and insights from him about entrepreneurship and making bold bets on the future”, according to a press release. Sun won’t be going alone though, as it has been confirmed that he can bring seven people along with him. The thing is, Sun, nor anyone in the cryptocurrency space, can’t seem to decide who’s best to bring.

The enigmatic cryptocurrency executive has purportedly invited Changpeng “CZ” Zhao of Binance, but Zhao has publicly declined the invitation, citing the fact that he “can’t make it [that] far.” With the list of attendees seemingly being on the table, everyone has tried to throw their hats into the ring. Anthony Pompliano, known for his incessant use of “Long Bitcoin, short the bankers”, explained that Andreas Antonopoulos, Murad Mahmudov, the SEC’s Hester Pierce, Fidelity’s Abigail Johnson, former Wall Street banker Caitlin Long, CZ, and Vijay Boyapati would be a “dream team” for the lunch to convince “Buffett of Bitcoin’s future potential.”

Such a team, known for their revolutionary thoughts about BTC and their clout on Wall Street and in other arenas, would likely give Buffett a bit more to think about Bitcoin than “rat poison”.

Anyhow, Sun hasn’t acknowledged this pseudo-proposition, but this likely isn’t the posse that he would opt to bring.

Is Buffett’s Opinion Worth Fighting For?

Should we really try and convince Buffett of Bitcoin’s future, though? As Ethereum World News suggested in a previous report, it’s actually not too much of a worry that the billionaire investor is skeptical of the crypto asset industry.

Buffett might even be a lost cause. Wences Casares, the chief executive of Xapo that is best known for convincing many execs on Silicon Valley and Wall Street to look into Bitcoin, wrote that he tried to talk to the American investor twice, but failed each time.

Anyhow, Buffett seems somewhat excited for lunch. In a statement given to Reuters, Buffett was reported to have said: “I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends.” Let’s see if this kindness will carry over to the lunch conversation.

Photo by Victoria Shes on Unsplash

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