According to Decrypt, crypto billionaire Justin Sun has canceled his plan to purchase 100,000 bananas from a Manhattan fruit vendor after logistical challenges were raised. Sun initially announced the initiative as a gesture of gratitude to Shah Alam, the vendor who sold a banana that became part of a $6.24 million art piece. Sun intended to distribute the bananas worldwide for free to individuals presenting valid identification.
The plan was scrapped after Alam highlighted the difficulties in executing such a large-scale purchase, citing high costs and minimal profit margins. Mohammed Islam, the owner of the fruit stand, noted that Sun's team had not contacted him to discuss the feasibility of the plan. Sun's team confirmed the cancellation of the banana buyback, acknowledging the feedback from the vendor and expressing intentions to find an alternative approach.
The decision comes amid Sun's recent acquisition of the banana, which is part of artist Maurizio Cattelan's "Comedian" artwork. Sun consumed the banana during a press conference, further drawing attention to the unique art piece. Despite the cancellation, Sun's team remains committed to coordinating a suitable plan, although the Thanksgiving holiday has caused some delays. Sun has yet to comment publicly on the cancellation of his global banana distribution scheme.