Justin Sun, Chinese crypto entrepreneur and former Ambassador of Grenada to the World Trade Organisation, has been charged with fraud by the US Securities and Exchange Commission. Sun is accused of illegally promoting his crypto assets, alongside eight celebrities. His companies, Tron Foundation, BitTorrent Foundation, and Rainberry, are also accused of artificially inflating trading volumes since August 2017. Sun's appointment was expected to promote trade and development opportunities for Grenada. Some of the celebrities named have agreed to pay a total of $400,000 to settle the charges.
