#binance #hype #zec #near
05/03/26 17:09 UTC-04

The U.S. Securities and Exchange Commission reaches a settlement with Justin Sun and Tron

According to the latest reports, the Securities and Exchange Commission (SEC) has reached a settlement with Justin Sun and the Tron company after previously pausing the case proceedings.


Chart showing TRX price fluctuations.

Cryptocurrency entrepreneur Justin Sun settled his civil fraud lawsuit with the Securities and Exchange Commission (SEC) by paying a $10 million settlement.

According to the announced agreement, the payment will be made by one of Sun’s companies, and the settlement requires court approval to take effect. In a letter sent by the U.S. Securities and Exchange Commission to Judge Edgardo Ramos in Manhattan, Sun and his companies neither admitted nor denied any wrongdoing under the settlement.

Sun stated on the social network X:
“I am pleased to confirm that the SEC has taken steps to dismiss all charges brought against me, the Tron Foundation, and the BitTorrent Foundation. Today’s decision concludes this process.”

In March 2023, the Securities and Exchange Commission (SEC) charged Sun and his companies Tron Foundation, BitTorrent Foundation, and Rainberry. The agency alleged that Sun organized the illegal distribution of the crypto assets Tronix (TRX) and BitTorrent (BTT), artificially inflated trading volumes, and concealed promotional payments to celebrities.

According to available data, Sun earned approximately $31 million by conducting hundreds of thousands of transactions between two accounts under his control, creating the impression of genuine market demand.

The Securities and Exchange Commission also claimed that Sun’s company collaborated with several celebrities to promote TRX and BTT on social media while hiding the fact that those individuals were paid for the promotions. These celebrities included actress Lindsay Lohan, singers Akon and Ne-Yo, and social media star Jake Paul.

See also: "“We will dominate crypto” — Trump’s statement pushes crypto exchange and miner stocks up 10–14%"

#U.S. Securities and Exchange Commission (SEC) #Tron

Editor: Alyona Nabok
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