On November 29, at a press conference held in Hong Kong, cryptocurrency tycoon Justin Sun ate the "banana" he had previously bought for 45 million yuan.
In the eye-catching camera, Sun Yuchen tore off the silver tape, took out the yellow banana stuck to the wall, peeled it and took a bite. "It tastes much better than other bananas, it's really good, haha." Sun Yuchen laughed.
On the morning of the 30th, a reporter from Xiaoxiang Morning News learned from Sun Yuchen’s staff that the payment had been completed using cryptocurrency, which was acknowledged by Sotheby’s auction house.
Xiaoxiang Morning News previously reported that Italian artist Cattelan used tape to stick a banana to the wall to create a work of art titled (Comedian).
On the evening of November 20th local time in New York (November 21st Beijing time), Sun Yuchen, a well-known Chinese billionaire born in the 1990s and founder of TRON, bought the work at an auction for US$5.2 million, and will pay a total of US$6.24 million including commission.
Justin Sun once told a reporter from Xiaoxiang Morning News that he planned to pay tribute to the work through a public performance of performing arts.
Regarding netizens questioning his speculation or even suspected money laundering, Sun Yuchen responded, "As for the so-called money laundering doubts, I would like to say that this is impossible. The most famous auction houses in the world like Sotheby's have very strict anti-money laundering measures. , every transaction will be strictly scrutinized. All my investment behaviors are transparent and compliant.”
“For me, this auction is more of an exploration of art and culture than an investment behavior in the traditional sense. I believe that the core of art is that it can stimulate discussion and thinking. Regarding the question of “hype”, I understand that this is a phenomenon that may be caused by a controversial work itself. This precisely reflects the charm of art - it causes people to think deeply by challenging traditional cognition.”
Fu Jian, a well-known criminal defense lawyer and director of Henan Zejin Law Firm, previously told a reporter from Xiaoxiang Morning News that the legality of cryptocurrency as a means of payment is controversial and has the risk of being out of regulation. my country's laws do not support the use of cryptocurrency as a means of payment for such transactions.
Cross-border transactions of artworks are also regulated by international treaties and laws. For example, international conventions such as the Berne Convention provide for the protection of intellectual property rights for artworks, and countries also have relevant laws and regulations such as import and export controls and tariff collection. The flow of funds involves multiple countries, and if an investigation is conducted, it needs to be coordinated in accordance with the provisions of bilateral or multilateral treaties signed between multiple countries.