Sun loves pulling stunts and creating hype — he’s been doing it for years now. However, his latest publicity stunt will likely be a net negative for the entire cryptocurrency industry.

For a long time, Sun was teasing a ‘special announcement.’ Naturally, the price of TRX rose in the lead-up. Then, the announcement came. Justin Sun had set a ‘world record’ by paying $4.5M to meet and have lunch with Warren Buffet. Sun even got the crypto community involved by inviting blockchain industry leaders to join the pair. The proceeds are said to be going to a charity in San Francisco.

Buffett is a known cryptocurrency skeptic. If anybody thinks he is going to be swayed by Justin Sun and his cohorts, you would be severely mistaken.

Not the First TIme

Sun is probably the most inventive huckster in the entire cryptocurrency space. TRON’s ICO, for example, raised $58M selling just 40 percent of its tokens. The tokens were distributed across all exchanges ‘for free,’ allowing for maximum liquidity on speculation. Massively pumped and dumped in January 2018, Sun has been quiet for most of the bear market.

Then, the hype started up again when TRON announced that it had purchased the torrenting platform BitTorrent. Many employees quit soon after. Then, rather than using the native TRX token for BitTorrent, Sun decided to create yet another token dubbed BitTorrent Token (BTT). The token was sold on Binance Launchpad and seemed to have all the indicators of a pump and dump in the making.

People like Justin Sun pulling stunts like this are a net negative for this industry.
Do a shady ICO for Tron which nets you $58 mil for 40% of the tokens. Pump & Dump with help of Binance. Buy Bittorrent, create another ICO for BTT. Sell 60 billion $BTT on Binance.

— WhalePanda (@WhalePanda) June 4, 2019

All his funding for his marketing stunts are just from printing money out of thin air and dumping it on clueless noobs who seem to love it.
He does have the marketing side locked down, I will admit that, but he’s really not someone you want to associate yourself with.

— WhalePanda (@WhalePanda) June 4, 2019

Just Sun Fakes It ‘Til He Makes It

This is the formula for Sun — fake it until you make it. If you hold an ICO with no concept behind it, it will be easier once you finally have money. First, hype the people up to bankroll your non-ideas, and then you flesh out some ideas later as if you’ve had them from the beginning. Rise and repeat.

With the latest Buffett announcement, whatever was left of Sun’s credibility beyond just being a showman is permanently quashed. Worse, it makes the entire cryptocurrency space into a joke. Buffett is most likely not looking forward to that lunch.

Do you agree that Sun primarily engages in marketing stunts that hurt the industry? Let us know your thoughts in the comments below.

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