The Securities Exchange Commission (SEC), the Tron Foundation and Justin Sun have filed a joint motion in federal court to stay the SEC's fraud lawsuit against Sun and Tron to consider "potential solutions."
The motion is similar to the SEC's filings in the Coinbase and Binance cases, suggesting a possible settlement. The SEC previously sued Tron, Sun and BitTorrent in 2023, accusing them of market manipulation, fraud and issuing unregistered securities, alleging that Tron employees conducted 600,000 "whitewash transactions" to inflate TRX trading volume.
The case was heard by Judge Edgardo Ramos, and Tron had previously filed for dismissal of the lawsuit, while the SEC's request for additional litigation has been denied. Sun currently serves as an advisor to World Liberty Financial, which is linked to former US President Donald Trump and has purchased Tron's TRX as its token reserve.
The SEC has jointly applied with Justin Sun and Tron to suspend the fraud case or reach a settlement
2025-02-27 00:13:20
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