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CRYPTO STORY OF THE DAY

In A Strange Turn Of Events, Yesterday, TRON Founder Justin Sun Wrote A Lengthy 'Apology To Regulators' Noting Regret For The Extent To Which He Promoted His Lunch With Warren Buffet - The Idea That Sun Is Under Increased Regulatory Scrutiny In China Now Appears More Likely

The change in tone comes after a strange week for Sun where he first delayed his lunch with Buffet due to claimed illness, then was said to be under an imposed travel ban due to investigation before announcing he was in fact in San Francisco. Yesterday, a Bloomberg article citing, 'people familiar with the matter' claimed that TRON executives had been detained until Sun called off the lunch. We highlighted earlier in the week that these rumours were the latest in a series concerning the regulatory relations of Sun and TRON.

Takeaway: Ironically, Buffet, who is a major crypto skeptic probably sees his internal narrative around the space completely justified by this mess composed by Sun. The question of whether Sun is actually sick or not is beside the point but his post would suggest he was contacted by regulators after he downplayed any investigation occurring at the firm. Whether this Chinese regulatory scrutiny was recently brought on by Sun's antics, are TRON specific or represent enforcement as a whole on crypto remains to be seen.