SEC, Tron Foundation and Justin Sun Request Court to Pause Ongoing Case
The U.S. Securities and Exchange Commission (SEC), the Tron Foundation, and Justin Sun have filed a joint motion to pause the ongoing SEC case against them. This request mirrors similar motions in cases involving Coinbase and Binance, where parties are seeking potential resolutions.
- The SEC sued Tron, Sun, and BitTorrent in July 2023 for alleged market manipulation, fraud, and issuing unregistered securities.
- Sun is accused of inflating the TRX token's trading volume through over 600,000 wash trades.
- District Court Judge Edgardo Ramos denied the SEC’s request for Tron to file additional responses before trial.
Sun is currently an adviser to World Liberty Financial and has invested $30 million in its WLFI tokens. World Liberty Financial has also acquired Tron's TRX tokens for its treasury.