Justin Sun, the founder of the crypto asset network TRON and CEO of BitTorrent, has just announced that he intends to match a presidential candidate’s unorthodox campaign strategy. The crypto-friendly democratic candidate, Andrew Yang, has stated that he plans to use campaign funds to extend universal basic income of $1,000 per month to 10 people for the next year.
In a move clearly supportive of the candidate, Sun has pledged to give $1,000 of his own money to 100 people each month for the next year. The crypto entrepreneur has also offered a seat at his lunch date with legendary investor Warren Buffet.
Justin Sun Backs Pro-Crypto Candidate with UBI Match
Earlier today, The New York Times reported on democratic presidential candidate Andrew Yang’s announcement that he planned to award 10 people $1,000 per month for a year. The move would be a much scaled down version of the universal basic income package he plans for US citizens should they elect him president in 2020.
The legality of Yang’s “freedom dividends” have been called into question since he plans to finance them using campaign funds. However, Yang argues that the payments are not against federal law since they would not exist if it were not for the campaign.
Crypto entrepreneur Justin Sun today pledged to match Yang’s UBI experiment by extending the monthly $1,000 to another “100 ppl”. He gave scant few other details of his plans via Twitter:
Yang’s initiative to UBI $1k to 10 ppl per mth for 1 yr, I’ll pledge UBI $1k to 100 ppl per mth in 2020! I’ll pick 1 to attend lunch w/ me & @WarrenBuffett 2020! I’ll let Yang assist me in picking the lucky 100! Join us! #YANG2020 @AndrewYang https://t.co/YQFnXwXtuf
— Justin Sun (@justinsuntron) September 13, 2019
Sun does not tell followers if they need to register interest in the competition, if it will be exclusive to US citizens, or if all entries must be a Tron holder. He also does not state if he will be paying the UBI in the crypto asset he founded, TRON.
He does, however, extend an invitation for one of the 100 recipients to join him at his lunch date with Warren Buffet. Yang will reportedly help him select who to bring along. The entrepreneur won a charity auction for the opportunity for him and a handful of others to have lunch with the legendary investor and cryptocurrency naysayer. He paid $4.6 million for the opportunity to turn Buffet around to his way of thinking. The lunch has already been postponed once due to apparent health concerns of Sun.
Already known to be joining Sun at the dinner is Jeremy Allaire, the CEO of Circle; eToro founder, Yoni Assia; Livio Weng, of Huobi; Charlie Lee, the founder of Litecoin; and a representative of exchange giant Binance. Each gave their agreement to attend the lunch prior to the now postponed date.
Presuming that those five names are still interested, that leaves two of the seven places yet to fill. With one going to the winner of the crypto entrepreneur’s UBI pledge competition, and President Trump looking increasingly like he snubbed his own invitation, it’s unclear who will fill out the table when the lunch is finally rescheduled.
Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I’d love to invite you to have lunch with crypto leaders along with @WarrenBuffett on July 25. I guarantee you after this lunch, nobody will know crypto more than you!
— Justin Sun (@justinsuntron) July 12, 2019
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