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The Breakdown

Crypto Daily 3@3 - 7.23 | Trontroversy! // Ethereum dev tax? // #IndiaWantsCrypto

The Breakdown

Blockworks

Investing, Business

4.8786 Ratings

🗓️ 23 July 2019

⏱️ 15 minutes

🧾️ Download transcript

Summary

Justin Sun canceled his lunch with Warren Buffett this week, claiming kidney stones. Reports today, however, suggested that he was compelled not to leave China by border authorities due to investigations. But then he showed up in SF? So basically, wth. Also an interesting conversation about developer funding and block rewards comes to Ethereum, while members of the Indian crypto community react to aggressive new political recommendations.  Watch original: https://www.youtube.com/nathanielwhittemorecrypto Follow me on Twitter: https://twitter.com/nlw

Transcript

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0:00.0

Welcome back to another Crypto Daily 3 at 3.

0:06.0

And boy, what a day.

0:08.0

So I unfortunately couldn't avoid starting with what everyone has been talking about for the last few hours,

0:15.0

which are some pretty serious allegations against Justin Sun, the head of Tron.

0:21.8

So let's get into this.

0:23.2

So first, I saw this morning, Coin Telegraph was one of the first to report.

0:27.5

It was a story that was originated in China, kind of from at that point suspect sources

0:32.8

that the cancellation of the lunch, the famous meal with Warren Buffett, was not actually about

0:41.3

kidney stones, as had been reported, but was Justin Sun being detained in part of maybe ongoing

0:49.3

investigations in China. And so, you know, at first this this was a little bit questionable. And then pretty soon,

0:56.7

uh, you started to have some people start to put together the pieces. So, um, C&Ledger, which covers

1:02.5

crypto, crypto in China, um, put together this graphics showing how there was kind of a variety

1:07.9

of different, uh, things that might have been combining. So

1:11.8

Justin's other app and what was going on with that, the sort of Tron users who are mad because

1:20.2

they got hooked into some Ponzi scheme, which was in the news a couple weeks ago. And then

1:26.4

the Warren Buffett lunch, which seems to have gotten attention for just why

1:31.3

this guy has enough money to pay almost $5 million for a lunch, what that means and what

1:36.5

the implications are.

1:37.4

So they started speculating about basically that the border control in China was potentially detaining them.

1:45.0

Again, this is also speculation, but pretty soon it was confirmed, I guess, by one of the more

1:53.0

reputable kind of financial reporting sources in China. And so obviously, you know, you can read

1:59.0

the block, you can check out Coin Desk's coverage of this.

...

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