SEC, Justin Sun Settle Lawsuit for $10M
Cointelegraph
The SEC settled its fraud lawsuit against Justin Sun and his companies for a $10 million fine.Summary
The U.S. Securities and Exchange Commission (SEC) has concluded its two-year legal battle against crypto entrepreneur Justin Sun by accepting a $10 million settlement. In a letter to a Manhattan federal court, the SEC stated that Rainberry, one of Sun's companies, would pay the fine, leading to the dismissal of claims against Sun and his associated entities, the Tron Foundation and BitTorrent Foundation. The original lawsuit, filed in March 2023, alleged that Sun and his companies committed fraud and violated securities laws by selling unregistered securities through the Tronix (TRX) and BitTorrent (BTT) tokens, and by allegedly engaging in wash trading of TRX.
(Source：Cointelegraph)