Tron and BitTorrent CEO Justin Sun has issued an apology on the Chinese social media website Weibo.
Sun has expressed deep sorrow over his marketing efforts, according to a translation by Coinness. The letter was issued following the cancellation, due to Sun’s medical condition, of a lunch date with Berkshire Hathaway CEO Warren Buffett that was scheduled for July 25th.
After Sun called off the lunch date, Chinese news outlet Caixin claimed the CEO was unable to travel to San Francisco because he was being detained in China on suspicion of money laundering and other criminal activities.
However, shortly thereafter, Sun released a video of himself at his residence in the Bay Area.
According to the translation, Sun takes responsibility for creating “out of control marketing”.
“Dear friends,
The past period has been becoming my darkest moment as I am both troubled and sick. I am experiencing an unprecedented crisis, challenge and pain.
I stayed up all night, introspecting my past words and deeds. I am deeply sorry and guilty about those over marketing behaviors I conducted for speculation. Here I am, expressing my most sincere apologies to the public, media, leaders and regulators who care about me.”
Sun says he meant to do good with his highly publicized, multi-million-dollar charitable donation to the Glide Foundation by way of Buffett’s annual fundraising event for the non-profit San Francisco-based organization that provides services for the homeless. However, he acknowledges that his marketing actions have caused concerns, which he regrets.
“[This event] has progressively evolved into an out of control over marketing, which is quickly falling apart due to my immaturity, aggressiveness of being young and unpredictably outspeaking.”
He says he will defer to regulators in the future regarding compliant communications and that he will take time to rest and recuperate, refraining from social media.
“I will make rectification actively to meet all regulatory requirements and operate by the law and pull out more positive energy to the blockchain industry.
At last, I’d like to apologize sincerely again to the media, the elder, leaders, regulators and the public. Sorry! Justin Sun”
You can check out the full letter here.
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