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Warren Buffett and TRON’s Justin Sun Finally Meet for Charity Lunch
The creator and CEO of a cryptocurrency/decentralised project TRON, Justin Sun, has finally managed to meet with Warren Buffett over a charity lunch. The billionaire and chairman of Berkshire Hathaway has been in constant negotiations with Sun over a possible lunch but the two executives were constantly busy, which has resulted in numerous postponements.
According to Cointelegraph, the two of them decided to meet on January 23 in Nebraska. They were attending a private country club there, but it seems that they weren’t the only ones who made it to the gathering. Some of the other guests who joined Sun and Buffett were Charlie Lee, the founder of Litecoin Foundation, Chris Lee, the CFO of Huobi, Helen Hai, the head of Binance Charity Foundation, and Yoni Assia, the CEO of eToro.
Sun was rather excited about the event, claiming that it was ‘really an honor’ to meet Warren Buffett in person. Moreover, Sun stated that he was grateful for Buffett’s vision, wisdom, and dinner. Finally, he said he would always remember pieces of advice Buffett provided him with when it comes to making a better ecosystem for Tron and doing business with partners in the world of blockchain.
Why Was This Luncheon Organised in the First Place?
Those who are not from the crypto world might be asking themselves — What is TRON coin? The coin, much like the entire system around it, is similar to bitcoin or any other cryptocurrency out there. But what matters is that its creator, Justin Sun, has managed to make a massive profit with it. That is why he decided to give an enormous sum of money to charity.
As a matter of fact, Sun has been a long-term fan of Warren Buffett, which is why he seized the opportunity to donate $4.5 million in an eBay charity auction that promised the highest bidder a lunch with Buffett. The amount Sun donated is the single biggest sum of money ever given via eBay charity in its 20+ years of existence, meaning Sun really wanted to make a statement with it.
The entire crypto community was somewhat shocked yet amazed by the idea that the CEO of TRON is going to meet one of the wealthiest people in the world. However, after the initial date was set, Sun had to postpone it due to medical reasons. He announced that the lunch would be rescheduled ‘very soon’.
Time passed and TRON founder had to make another postponement of the lunch in September. During that period, all the money Sun donated was officially transferred to GLIDE Foundation located in San Francisco that focuses on supporting the communities in need, including the oppressed and economically deprived, as well as ethnic minorities and members of the LGBTQ community.
So far, the only details we know about the lunch is that Justin Sun enjoyed it, but nothing more than that was revealed. It’s safe to assume that the crypto giants did not actually discuss anything important with Buffett and that they all just had casual lunch. One thing is certain – Justin Sun’s morale was boosted after the lunch, meaning he might focus on his TRON project even more.
When it comes to Sun’s cryptocurrency, TRX, it’s been doing rather well lately. At the moment, it is located in the 13th place in terms of total market cap, with $1.64 billion in it. The current circulating supply is 66.68 billion TRX, and a single unit of it costs approximately $0.024.
The last couple of months were somewhat steady for TRON coin, meaning no big ups or downs in price took place. But we should not forget that Sun is capable of doing a lot of eccentric stuff to shake the market, so who knows what will happen next.
Image by Nenad Maric from Pixabay
Ethereum price has been hovering around its highest level in 7 months for the past few days amid a boost in the crypto market. ETH has jumped more than 49% in its year-to-date price, increasing 5% in the past week. Ethereum’s total market cap has slipped by more than 3% over the last day, while the total volume of the altcoin traded increased by more than 6%.
Fundamentals
Just like most cryptocurrencies, Ethereum price found support in the recent fiasco in the banking sector. The recent vulnerability in the banking sector pumped liquidity in the global crypto market as investors shifted to other assets such as cryptocurrencies. Bitcoin, the largest cryptocurrency by market cap, saw its price hit its highest level in 9 months, while Ethereum jumped to a 7-month high.
The global crypto market was in the red later on Wednesday as investors chewed on the Fed’s latest interest rate decision. The Federal Open Market Committee (FOMC) announced on Wednesday a 25-basis point hike in the federal funds to 5%, down from 4.75%.
According to a statement by the US Federal Reserve, the FOMC remains highly attentive to inflation risks as it seeks to achieve an inflation rate of 2%in the long run. The Committee also announced that it anticipates additional policy firming to help in attaining a stance of monetary policy to aid in achieving the 2% target.
According to the Fed’s…
Bitcoin price has been hovering above its highest level since June 2022 over the past few hours. The largest cryptocurrency by market cap has jumped by 28.30% in the past week, while its year-to-date price inches higher to 70.63%. Bitcoin’s total market cap has increased by 4.77% over the last 24 hours to $547.7 billion, while the total volume of the coin traded rose by 50%.
BTC Skyrockets
Bitcoin price was rallying on Monday as most altcoins slumped, led by the largest altcoin by market cap, Ethereum. The global crypto market cap has increased 2.49% over the last day to $1.18 trillion, while the total crypto market volume jumped 34.88%. Bitcoin’s dominance inched 0.98% over the past 24 hours to 46.34%, its highest level since June 2022.
The recent global banking crisis in which three major banks in the US were closed within days has pushed the BTC price higher. Silvergate Capital, Signature Bank, and Silicon Valley Bank recently disclosed operational difficulties, prompting regulators to shut them down.
Switzerland’s largest banking institution, UBS, announced on Sunday that it had entered a merger deal with its embattled rival Credit Suisse. UBS announced that it would buy its rival for $3.25 billion, with Swiss regulators playing a key role in the ideal. According to the Swiss National Bank, the merger will secure financial stability and protect the Swiss economy.
Bitcoin reacted positively to the news, cruising…
Solana price joined in on the recent rally in the global cryptocurrency market, jumping nearly 17% in the past week. Solana has made substantial gains this year, climbing 102% in its year-to-date price. SOL ranks as the 11th largest cryptocurrency after Binance USD and ahead of Polkadot. Despite the altcoin’s recent rally, the total volume of the coin traded has continued to dwindle.
Fundamentals
Solana price was trading slightly higher on Friday as Bitcoin and other altcoins extended their rally despite the bank contagion fears weighing on the markets. Bitcoin and Ethereum have been leading the recent rally in the market, jumping more than 30% and 20% in the past week, respectively.
Investors have welcomed the resilient crypto prices amid the recent crisis in the banking sector this week. The week started with the collapse of Signature Bank and Silicon Valley Bank on Sunday until the focus shifted to Credit Suisse and First Republic Bank. Traders have been digesting the fate of Credit Suisse even after the bank said that it would borrow up to 50 billion Swiss Francs from the Swiss National Bank.
Several analysts have linked the recent rally in the crypto market to lingering bank worries. Even so, crypto prices are heavily influenced by inflation and the Federal Reserve interest rate hikes. According to analysts, the recent decline in banking stocks points to the vulnerability of traditional institutions, raising liquidity concerns…
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