Sec, Justin Sun, Tron asks the Court to put fraud case over ‘potential decision’

The US Securities and Exchange Commission, Tron Foundation and Justin Sun filed a joint movement on Wednesday, asking a federal judge to put the securities regulator’s ongoing case against the crypto entrepreneur and his company.

The proposal is similar to movements filed in SEC’s ongoing case against coinbase and binance. In both cases, the parties said they were working against a “potential solution” of their cases. Coinbase CEO Brian Armstrong said last week that SEC agreed to drop his case against the exchange directly, pending commissioner approval.

“In this case, the parties claim that it is in each of their interests to remain this case while considering a potential decision and agree that no party or non-party would be condemned by a stay,” Wednesday’s archiving said. “Furthermore, a stay in the court and public interest is because a decision would maintain legal resources by avoiding the need for the court to resolve the defendant ‘pending proposals to reject the complaint.”

SEC defendant Tron, Sun and Bittorrent in July 2023, as the claims of the defendants dealt with market manipulation, fraud and issued unregistered securities.

Sun tried to inflate the volume of the TRX token through the Wash trade, alleged SEC at the time. The regulator said the Tron Foundation employees completed over 600,000 wash shop.

District Judge Edgardo Ramos, who oversees the case, refused SEC’s efforts to force throne to submit a further reaction in the resolution proposals. Tron filed to move to reject the trial directly last year.

Sun is a World Liberty Financial adviser, a company affiliated with US President Donald Trump, after purchasing $ 30 million value of the company’s WLFI tokens. World Liberty, for his side, bought the Trx Token as part of his token state box.

Read more: Founder of Trump’s World Liberty Financial Credits Justin Sun for Project’s success

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top