Cryptocurrency entrepreneur who bought banana art for $6.2 million eats the fruit in Hong Kong

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This article was published 29/11/2024 (670 days ago), so information in it may no longer be current.

HONG KONG (AP) — A cryptocurrency entrepreneur who bought a piece of conceptual art consisting of a simple banana, duct-taped to a wall, for $6.2 million last week ate the fruit in Hong Kong on Friday.

Chinese-born Justin Sun peeled off the duct tape and enjoyed the banana in a press conference held in The Peninsula Hong Kong, one of the city’s priciest hotels, in the popular shopping district of Tsim Sha Tsui.

“It tastes much better than other bananas. Indeed, quite good,” he said.

“Comedian,” by Italian artist Maurizio Cattelan, was a phenomenon when it debuted in 2019 at Art Basel Miami Beach, as festivalgoers tried to make out whether the single yellow piece of fruit affixed to a white wall with silver duct tape was a joke or a cheeky commentary on questionable standards among art collectors. At one point, another artist took the banana off the wall and ate it.

The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 and $150,000, according to the gallery handling sales at the time.

Last week, Sun, founder of cryptocurrency platform TRON, made the winning bid at the Sotheby’s auction in New York. Or, more accurately, Sun purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it “Comedian.”

At the time, Sun said in a statement that the piece “represents a cultural phenomenon that bridges the worlds of art, memes, and the cryptocurrency community.”

“I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture,” he said.

The South China Morning Post reported the banana he ate on Friday was bought in Hong Kong.

Sun on Tuesday announced on X he had invested $30 million in World Liberty Financial, which was launched by U.S. President-elect Donald Trump in September as his family’s cryptocurrency venture.

Sun said in the post that his platform, TRON, is “committed to making America great again and leading innovation.” Following his investment in Trump’s venture, he became an advisor of World Liberty Financial.

Last year, Sun was charged by the U.S. Securities and Exchange Commission with fraud and other securities law violations. In response, he said on X the complaint “lacks merit.”