The cryptocurrency market saw the world’s largest cryptocurrency, Bitcoin [BTC], fall massively on June 4, causing the coin to be valued just under $8k. Following BTC’s fall, other altcoins too saw a bearish market. However, the report of Tron’s Founder and Chief Executive Officer Justin Sun winning a charity lunch with Warren Buffet, after a bidding $4.56 million, made many forget about the vermillion market.
The crypto-community rejoiced over the possibilities the lunch may offer. However, there were a few who thought of it as a “stunt” pulled off by Sun, one that would have a negative impact on the crypto-industry. Whale Panda, a cryptocurrency proponent, took a jibe at Sun, Binance, and BTT. The proponent tweeted,
“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.”
The proponent conceded that Sun had locked down the marketing side for his projects. However, he went on to say that “he’s really not someone you want to associate yourself with”. He went ahead to call Sun a “scammer” in the following tweet,
“I’m sure he’s a nice guy, most scammers are. Scammers are nice, that’s how they convince you to buy their scam.
No surprise here that certain people think it’s a good idea. This will not drive adoption at all. It’s a marketing gimmick, paying $4.5 million for a selfie with Buffet”
Despite the backlash from a few, Sun enjoyed the attention as the news resulted in Tron trending on Twitter, with over 18 thousand tweets over the day. At press time, Tron was valued at $0.0353, with a market cap of $2.35 billion. The 24-hour trading volume of the coin was noted to be $1.56 billion, as it noted a fall of 3.80% over the day. However, TRX managed to hike by 4.07% over the past week and continued to grow by 0.77% within the hour.