Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market | DeCenter – Blockchain and Bitcoin

Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation Charges.

The U.S. Securities and Exchange Commission sued Justin Sun Wednesday on allegations of selling and airdropping unregistered securities, fraud and market manipulation.

The SEC said in a press release it was suing Sun, the Tron Foundation, the BitTorrent Foundation and BitTorrent (now known as Rainberry) over the sale of tronix (TRX) and BitTorrent (BTT) tokens, which it described as unregistered crypto asset securities. The regulator further alleged that the defendants "fraudulently manipulat" TRX's secondary market through an "extensive wash trading" scheme.

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