Justin Sun accused of money laundering and TRON (TRX) loses over 19%
Justin Sun accused of money laundering and TRON (TRX) loses over 19%

Justin Sun accused of money laundering and TRON (TRX) loses over 19%

By Stefano Cavalli - 24 Jul 2019

Chevron down

The announcement by Justin Sun to postpone the lunch with billionaire Warren Buffett, because of an illness, has raised several concerns in the crypto world.

The event has been postponed to July 25th, when there is still uncertainty as to whether the founder of TRON will be available or not.

He is currently being accused by several Chinese media, while the price of TRON (TRX) shows a record loss of -19.27%, partly due to the slight decrease in bitcoin (BTC). A report from China indicates that Justin Sun is not facing health problems, meanwhile, the BitmexRekt bot has been busy.

Unfortunately for Sun, the announcement that the TRON Foundation has made has had a major impact on the price of TRON (TRX) and investors have acted accordingly. The Chinese media say that Sun is still on Chinese soil and there are accusations of pornography in his social media Peiwo, and there is also mention of gambling.

According to some rumours, Sun can not currently leave the country and that would be the real reason that prompted the founder of TRON to postpone the date set for the lunch with Buffett.

Justin claims that the charges against him concerning the illegal fundraising are totally false considering that the Chinese government banned ICOs in September 2017 and that the TRON Foundation would have returned the money.

With regard to money laundering, the foundation is located in Singapore and complies with local regulations.

“We understand the concerns over the development of blockchain technology, and we are willing to open up and communicate to jointly promote the development of blockchain technology in China”.

In any case, TRON (TRX) is paying the consequences of these rumours and is currently worth $0.023079. A loss that amounts to almost 20% of the value recorded 24 hours ago, according to data from CoinMarketCap:

justin-sun-money laundering tron trx

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.