US EditionPublished • loading... • Updated
Justin Sun settles SEC fraud case for $10 million
- On Thursday, the SEC announced a settlement with Tron and Justin Sun, with Rainberry, Tron Foundation, and BitTorrent Foundation consenting to a proposed Final Judgment that the SEC reviewed and approved.
- The 2023 lawsuit alleged the SEC accused the defendants of `fraudulently manipulat` TRX's market through `extensive wash trading` and involved Tron and Sun, according to the filing.
- Justin Sun bought about $75,000,000 of World Liberty Financial tokens and posted on X that the resolution brings closure and he will continue building; Tron spokespeople and an SEC spokesperson declined comment.
- The deal still requires a federal judge's approval, the filing says remaining claims against Rainberry Inc. would be dismissed with prejudice and the Final Judgment would dismiss all claims against Justin Sun, Tron Foundation, and BitTorrent Foundation.
- The case's pause came amid a broader halt to crypto enforcement last year, when the SEC dropped most lawsuits under former Chair Gary Gensler after President Donald Trump retook office under Commissioner Mark Uyeda, acting chair, before Chairman Paul Atkins took over.
Insights by Ground AI
Podcasts & Opinions
45 Articles
45 Articles
Billionaire Justin Sun Says SEC Dropped Fraud Charges Against Him And The Tron Foundation: 'The Future Is Bright'
Tron (CRYPTO: TRX) founder Justin Sun said Thursday the SEC has dismissed the claims it brought against him and his companies for fraud and marke
·New York, United States
Read Full Article
S.E.C. Settles Its Case Against Justin Sun, an Investor in the Trumps’ Crypto Coins
Federal regulators on Thursday settled a fraud case against Justin Sun, the Chinese-born crypto billionaire who was one of the Trump family’s earliest and most important crypto partners. The Securities and Exchange Commission said in a court filing that a company controlled by Mr. Sun would pay a $10 million penalty to resolve the suit. It was the agency’s latest retreat from enforcement against the crypto industry, which has become a source of …
Coverage Details
Total News Sources45
Leaning Left1Leaning Right1Center9Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
C 82%
Factuality
To view factuality data please Upgrade to Premium
