Sun Yuchen appeared in the San Francisco apartment team to talk about the whole process of bidding for Buffetts lunch

category:Finance
 Sun Yuchen appeared in the San Francisco apartment team to talk about the whole process of bidding for Buffetts lunch


In the voice of doubts from outside, Sun Yuchen cancelled Buffetts lunch because of illness, which is continuously fermenting.

In the early morning of July 23, Sun Yuchen, the founder of TRON, who took pictures of Buffetts lunch, posted a message on his micro-blog that I canceled my lunch meeting with Mr. Buffett because of my sudden kidney stones being treated in hospital.

But on July 19, Caijing reporters met Sun Yuchen in his San Francisco office, where he was in a meeting with two employees. At that time, Buffetts lunch had not been cancelled. Sun Yuchen was still planning to invite the fourth luncheon guest. He looked in good condition.

According to Caixin. com on July 22 and 23, multiple sources showed that Sun Yuchens name was still on the border control list restricted from leaving the country, and the State Internet Financial Risk Management Office had sent a letter to the public security department, suggesting that it should be investigated on suspicion of illegal fund-raising, money laundering, gambling and Yellow-Related matters. After the publication of these reports, many people in the industry believe that Sun Yuchen should be included in the focus of the target of supervision.

Several people have been asking Sun Yuchen in the past two days to see if he is controlled by the border. Sun Yuchen said he didnt know about it, and then asked the reporter of Finance and Economics, Where is the notification document?

On July 23, he released a video from his San Francisco home on American social media in an attempt to prove his recent presence in the United States.

Persons familiar with the relevant regulations explain that border control usually does not issue documents directly to the parties, only when they enter and exit the customs, they have the opportunity to verify. According to people familiar with the situation, Sun Yuchen has been operating outside mainland China since this year. Whether he has entry and exit records in the near future and whether he is actually controlled by the border remains to be confirmed by the authorities.

The outside world questioned whether Sun Yuchen cancelled Buffetts lunch because of kidney stones and other reasons. When the reporter of Finance and Economics testified to him, he failed to produce a hospital certificate, saying only that he was now resting at home in San Francisco. Some insiders believe that one of the reasons for the cancellation of lunch is Sun Yuchens recent overtone, which regulators believe is an attempt to gain momentum through public opinion.

When asked, If youre sick, why dont you have a rest? Sun Yuchen said, Our market value has fallen like this today, evaporating $700 million to $800 million. How can I not go to work again?

On July 1, 2019, Super Wave Field Community APP suspected of pretending to be a wave field official, enticing users to recharge, and then unable to withdraw. According to public information, the office of Bochang is located in Haidian, and the reporter of Finance and Economics called Haidian District Economic Investigation Brigade. As to whether to file a case, he responded that no relevant cases had been accepted at present. At the same time, the reporter contacted the financial regulatory agencies related to the wave field, and the people concerned did not give a clear response to Sun Yuchens border control and other issues.

Finance and Economics also received feedback from a Buffett lunch registration email. Although Buffett lunch in San Francisco was cancelled, the planned post-lunch party in San Francisco from 5.30 p.m. to 10 p.m. on July 25 was the same. The information released to the media by the wave field shows that lunch time will be arranged separately.

Sun Yuchen has announced that lunch with Buffett is scheduled for July 25th at Quince Michelin 3-star restaurant in San Francisco. Sun Yuchens Bit Torrent through eBay eventually bid for Buffetts charity lunch for $45.678.88 million, which will be donated to the Glide Foundation as Buffetts lunch ritual goes.

It is reported that Sun Yuchen has paid the above amount on June 5. On the morning of July 22, an employee volunteer of his company contributed an additional $100,000 to the Glide Foundation. Petra Tuomi, a spokeswoman for the Glide Charity Foundation, confirmed to Caijing that the donation information was true and stressed that Sun Yuchens team was the leader when lunch would be restarted.

On July 23, Sun Yuchen released a picture of his home in San Francisco on American social media, against the backdrop of the Bay Bridge, San Franciscos iconic attraction. Then Sun Yuchen attached a 9:40 second video. Sun Yuchen stood in the corner of the living room and could see the view of San Francisco Bay Bridge through the glass window.

In the video, he is in good condition, and his business development manager and international public relations director are also in the video. No, its in San Francisco. I hope Im in Miami, he replied.

Buffetts Lunch

He mentioned Cliff Edward, who is in charge of international relations at Wave Field, and the person who helped Sun Yuchen run Buffetts lunch. Edward has been a journalist for Bloomberg Business Weekly for 12 years and a public relations officer for Netflix. He joined Wavefield in November 2018 to take charge of the companys international public relations business. Sun Yuchen once joked, Because he is strong, there are always people who regard him as our security guard.

Edward told Caijing that Sun Yuchen had wanted to take Buffetts lunch since 2018. Sun Yuchen began to speculate in stocks in junior high school, and learned about Buffett from that time. But Buffett made a lot of bad comments in the media about encrypted currency. His idea was to talk to Buffett and tell him why Bitcoin is good.

Buffetts lunch auction began at the end of May this year. This year marks the 20th anniversary of Buffetts lunch and an extraordinarily popular year for auctions. The money raised by the lunch auction will be donated to the Glide Foundation in San Francisco, USA, which provides food, medical care and other services for homeless tramps, the poor and drug abusers.

Bidding takes place both online and offline, and Sun Yuchens team participates anonymously online. At first, Sun Yuchens budget for Buffetts lunch was $4 million. Soon, the price exceeded their ceiling. Edward asked Sun Yuchen if he would take lunch at all costs, and when that was clear, they further increased their budget.

After the deal was concluded, Buffetts team called to thank Sun Yuchens team for taking a charity lunch and to ask if their comments were public. Sun Yuchens team spent three days preparing a press release and confirming that it was all right. After that, they sent 18 messages about Buffetts lunch to the social media.

During this period, Sun Yuchen released some Buffett lunch guests every three or five times. He conflicted with Wang Sicong and Sogou CEO Wang Xiaochuan, and on Twitter account @US President Trump. Buffetts lunch soon became a hot topic in social media.

The money for bidding for Buffetts lunch did not come from Sun Yuchen himself. The money came from Rainberry. Inc.

In June 2018, Sun Yuchen acquired BitTorrent. Inc for 140 million yuan, which was renamed Rainberry Acquisition. Inc in a low-key way in early 2017. Sun Yuchen told Finance and Economics that the real name of the company he bought was Rainberry. If you look at the BitTorrent protocol as a whole and it is maintained by various development teams, Rainberry is one of the main development teams of the BitTorrent protocol. He also analogizes the relationship between Bitcoin and BlockStream, its main development team. Department.

The BitTorrent. Inc team did not give any explanation for the name change, and a query by Finance found that Rainberry had no company website, no Linkedin, or any official website (BitTorrent. com or uTorrent. com). State documents show that Rainberry changed its controller to Sun Yuchen on April 23, 2018.

Sun calls Rainberry a profitable company with advertising revenue of $25 million a year. Rainberry was chosen as the payer because both Rainberry and the Glide Foundation are San Francisco companies and Rainberry employees have volunteered for the charity before.

Edward revealed that before the auction, bank account information was also required to prove the strength of the fund. He found a lawyer and printed out the companys bank certificate. Finance and Economics exclusively learned that Quince Restaurant, originally for lunch on July 25, had been chartered by Sun Yuchens team and had already paid the restaurant $100,000.

If everything goes according to Sun Yuchens plan, Buffetts lunch may ferment into a hot topic.

In BitTorrents original media plan, on July 25, Buffett and Sun Yuchen will have a pre-dinner press conference, mainly with foreign media; then CNBC will give both sides a live 30-minute interview, after which Buffett will leave San Francisco on the same days flight. Another reason for this years grandeur is that this year marks the 20th anniversary of Buffetts charity luncheon. A spokesman for the Glide Charity Foundation, which has worked with Buffett for 20 years, declined to comment on the interview plan.

Long before Buffetts lunch was discussed, Sun Yuchen was always a topic figure, and the public and regulatory authorities were constantly questioning him: his App with me in Beijing was suspected of pornographic trading; and the initial stage of the wave field project was suspected of illegal ICO fund-raising. After the Ninety-Four Ban in 2017, Sun Yuchen initially insisted on not refunding the currency until September 20, when he did not return it in accordance with regulatory requirements. In addition, he operates the wave field public chain, which is considered to be dominated by gambling projects and can be opened in China.

However, it is the wave super node APP roll-out event that triggered a heated discussion of supervision.

Recently, Finance and Economics received a video of a group of suspected public security and rioters gathering at the gate of Beijing Bochang office. Since the beginning of this year, Wavefield Super Community APP has attracted users to register by pyramid marketing promotion, and obtained more Wavefield coins by completing the pulling operation. On June 30, the community said it suspended cash withdrawals and suspected running. On July 1, a middle-aged womans suicide note signed Xia Bing and a cut-wrist photograph quickly spread, and panic speech about the collapse of funds appeared.

The so-called wave super community APP is called TRX Torrent Super Community in English. The community claims to be a project of UTorrent, the 27 super nodes of the wave field. In the past, the project said in a promotional note: UTorrent is the worlds number one BT download client. BitTorrent. Inc completed the acquisition of UTorrent in 2006. Sun continued to acquire BitTorrent. Inc in 2018.

The Wave Field Super Community APP project appeared in January 2019. Sun Yuchen did not respond to several user queries about the relationship between the project and TRON.

It wasnt until July 1 this year that Sun Yuchen broke the rumor on Weibo that he asked everyone to be vigilant about fund pyramid selling.

In his later open rumors, he did not directly mention the wave super community APP in the rumors, nor did he directly clarify that it had nothing to do with the project. When it was found that some people cheated money by pyramid selling in official name, they failed to refute the rumor at the first time, and then came out after the accident, which also aroused heated discussion among netizens.

Aiming at the suspected pyramid selling project of App in Bochang Super Community, whether the police have filed a case has been put on file. The reporter of Finance and Economics contacted Haidian police, and has not heard the news of filing a case yet. According to past experience, if a case is filed, either the police will publish it publicly or the investors will respond to it. At present, the journalists are still investigating further.

Sun Yuchen said in an interview in his early years that he earned the first barrel of gold in his life by buying Tesla, Meritorious Stocks and a large number of Bitcoins during his college years. He did not know the exact amount. Later, he returned to China as a representative of Ripple, an American block chain company. He also founded Reebok China in China. He originally wanted to use block chain technology to build an integral exchange system.

Early company employees revealed that Sun Yuchen spent most of his energy on the management of media and personal brand, and the companys development and product business progress was slow. Later, he bought a live video broadcasting company, Accompanying me. Xinhua News Agency has reported that accompany me APP was suspected of pornographic transactions, and was removed from the shelves in the last years online audio renovation.

According to the information records of enterprise investigation, Guangzhou Accompanied Information Technology Co., Ltd., which Sun Yuchen holds 100% shares, has been listed in Panyu Branch of Guangzhou Administration for Industry and Commerce as an abnormal operation list. The reason is that the registered residence or business place can not be contacted, and the date of inclusion is June 27, and the date of approval is July 18.

Media sources said that the number of early users of accompany me was not very large, until the later period of the Yellow River after the surge in traffic, the wave field started millions of users originated from accompany me APP. On July 19, a reporter in a loaded mobile phone, still can open accompany me APP live broadcast.

After Reebo China failed to make achievements, Sun Yuchen once dismissed the company staff, and because of the disputes between severance pay and employees, he recovered all the shares from the venture capital company that invested in him at a certain price. He did not disclose the repurchase price to Finance and Economics. His partners said that after the company was dissolved, he had blocked all previous partners.

The controversy over Sun Yuchen in the past also stems from his public chain project, wave field TRON. The public chain was launched in Zhongan on August 15, 2017. The earliest distribution share of the original wave field was 40% public sale, 15% private placement, 35% wave field foundation, 10% of Sun Yuchens accompany me company, and the opening price was $0.0015. But who wants the Ninety-Four-One Ban to force Sun Yuchen to buy back at the issue price?

Despite the twists and turns of the process, Sun Yuchen eventually returned the currency on September 20 under regulatory pressure. But the currency rebate storm eventually made Sun Yuchen lucky for misfortune, rubbing against the golden period when no matter what currency was soaring. After the repurchase, most of the currency was controlled by the team. By January 2018, the price of the currency had soared 130 times. Many people attribute it to the relative concentration of wave field currency and the ability of pull plate. Although Sun Yuchen denied the pull plate.

Because the wave field project has not made substantial progress, and the white papers are similar to Taifang, the wave field is still known as air currency.

Last June, Sun bought BitTorrent for $140 million. From the point of view of the insiders of the block chain, this has helped the wave field really become a business from an air currency. A person familiar with Sun Yuchens operation method told Finance and Economics: This is the same way as his original acquisition ofaccompany me APP, which can not recruit developers to buy, but finally made it?

When asked how Sun Yuchen had quickly raised the number of Twitter fans to 1.4 million, he began to talk about his marketing enthusiastically. He believes that the key to the increase is the timing and platform dividend period. He started Twitter in 2017, the golden age when people on Twitter focused on block chains. He says he puts more than $1 million in advertising on Twitter every year, and that its too expensive to switch new users by giving Twitter priority to people who care about you.

For domestic marketing, he suggested establishing a Weixin fan group. Speaking of this, Sun Yuchens mood is obviously high, he said: You media, in marketing or to learn from microbusinessmen. There are only 20 groups of 10,000 people, from 0 to 10,000 is too difficult. Wechat will be sealed, but not easily sealed. With these 10,000 people, from 10,000 to 100,000, the latter will be simple.

(Reporters Gong Yijie and Wu Yang Yingye also contributed to this.)

Source: Responsible Editor of Finance and Economics Network: Zhong Qiming_NF5619