Cryptocurrency entrepreneur eats £5m banana he won at art auction

"Comedian", by Italian artist Maurizio Cattelan, hangs on display during an auction preview at Sotheby's in New York. Credit: AP

A cryptocurrency entrepreneur who bought a banana taped to a wall for $6.2 million (£4.9 million) ate the fruit in front of a crowd in Hong Kong on Friday.

Chinese-born Justin Sun grinned as he took his first bite of the conceptual piece of art, telling a press conference at The Peninsula hotel: “It tastes much better than other bananas. Indeed, quite good."

Last week at the Sotheby’s auction in New York, Mr Sun, founder of cryptocurrency platform TRON, made the winning bid for "Comedian", by Italian artist Maurizio Cattelan.

Or, more accurately, he purchased a certificate of authenticity that gives him the authority to duct-tape a banana to a wall and call it “Comedian.”

A roll of duct tape is included as part of the deal, along with a 14-page list of instructions on how to install the banana, and a suggestion of changing it every seven to ten days.

Mr 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, honouring its place in both art history and popular culture,” he added.

The South China Morning Post reported the banana he ate on Friday was bought in Hong Kong. Sharing a video of himself enjoying the very expensive snack on social media, Mr Sun wrote: "Many friends have asked me about the taste of the banana.

"To be honest, for a banana with such a back story, the taste is naturally different from an ordinary one. I could discern a hint of what Big Mike bananas from 100 years ago might have tasted like."

“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.

The piece attracted so much attention that it had to be withdrawn from view. But three editions sold for between $120,000 (£94,000) and $150,000 (£118,000), according to the gallery handling sales at the time.

The artwork's certificate comes with a list of instructions on how to install the banana. Credit: AP

After the first edition sold, Georgian performance artist David Datuna was shown picking the banana of the display and eating it in front of stunned onlookers at Miami's Art Basel in 2019. The banana was replaced later that day.

At the time he wrote on his Instagram: "I really love this installation. It's very delicious."

Then, in 2023, Noh Huyn-soo, an art student from Seoul National University, took the banana off the wall and ate it, telling staff at Seoul’s Leeum Museum of Art he was hungry because he'd skipped breakfast. On Tuesday, Mr Sun announced on X that he had invested $30 million (£23.5 million) in World Liberty Financial, which was launched by US President-elect Donald Trump in September as his family's cryptocurrency venture.The entrepreneur 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, Mr Sun was charged by the US Securities and Exchange Commission with fraud and other securities law violations. In response, he said on X the complaint “lacks merit".

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know...