At of 19:00 UTC on July 24, Justin Sun apologized on Weibo, the Chinese equivalent of Twitter in a letter for overmarketing. He was deeply sorry and guilty for over marketing and keening to the publicity stunt.
Now, this is a letter issued after Caixin, a leading Chinese news outlet on the economy, business and finance, has repeatedly stated that Justin is currently under border control and might face an upcoming investigation led by Chinese financial regulators.
First announced the cancellation of the Power Lunch on Weibo; then modified his previous remark in a live streaming video on Twitter, claiming that the lunch is postponed due to his health issue, not cancelled. It seems that the options Justin is looking at are full of complexities.
With his controversial reputation, could this apologizing letter just another scenario, Justin speculates?
CoinNess.com editing team has translated the full letter from Chinese, and the contents are as follows:
Apologizing Letter From SUN Yuchen (Justin Sun)
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 behaviours I conducted for speculation. Here I am, expressing my most sincere apologies to the public, media, leaders and regulators who care about me!
[The bit of]Buffett Lunch was due to my adoration to Mr Buffett and my love for charity. I meant good. I do simply have kept the idea of promoting the blockchain industry in mind, hoping to fulfil my responsibility to my project.
[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.
The result was completely out of my control and driven far away from my intention. I have neglected the social and public obligations and brought a negative impact on the public. I want to apologize again to the regulators who have been caring about me. Sorry about the concerns I have aroused.
I started subscribing Caixin since I was in college. I repeatedly read each page of the journals, and I have great respect to Ms HU Shuli. Caixin Magazine's insistence on promoting social obligation and public welfare made me reflect my limits and insignificance. I am willing to unreservedly communicate with Caixin about our business, development with full transparency, hoping to receive some guidance from the most excellent media experts.
Mr WANG Xiaochuan is a senior expert from the internet domain; I am highly respectful to his achievements. I liked making jokes and was being aggressive, hoping to speculate some topics for marketing. I was deeply regretful about the vulgar marketing strategies I conducted. Here I am again apologizing sincerely to Mr WANG Xiaochuan. I hope he could understand.
To whom who cares about me and leaders and regulators, I am extremely sorry about my previous marketing behaviours and words. I am young and unaware; I am deeply fearful about the negative impact I have imposed on this emerging market.
I will exert all my effort to keep timely and long-term communication to regulators to meet all requirements.
This is an alarm call for me to understand the importance of social obligations.
I started loving business when I was young and started the business early. Very fortunately, I caught up with the highspeed track of socialist economic development with Chinese feature and dividend of the globalized blockchain industry. I am deeply proud to be able to spread out the value of Chinese blockchain around the world.
I will rest for a while shortly due to my sickness and reduce taking interviews and posting on social media. I will focus more on the research and development of blockchain technology. I will focus more on the national, industry and public interest. 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!