Justin Sun settles SEC fraud case for $10M as TRON's TRX ticks upward
Justin Sun, the founder of TRON, has reached a settlement with the US Securities & Exchange Commission (SEC) over long-running fraud allegations. The deal, worth around $10 million, follows a civil case that began in 2023 but was paused last February to explore a resolution. Critics, including Senator Elizabeth Warren, have already raised concerns about the agreement.
The SEC first filed its case against Sun and his companies in March 2023. The allegations included illegally generating $31 million in proceeds, faking legitimate trading activity, artificially boosting trading volumes, and hiding payments to celebrity promoters. These claims centred on activities dating back to August 2017.
The case was temporarily halted in February 2025 to allow negotiations. Now, both sides have agreed on a $10 million settlement, though it still requires court approval.
Meanwhile, TRON's native token, TRX, has seen a slight price increase. Over the past 24 hours, its value rose by 0.46%, reaching $0.2861.
Elizabeth Warren has publicly criticised the settlement. She highlighted alleged ties between Sun and the WLFI token, suggesting the deal may not fully address the broader concerns.
The proposed $10 million settlement now awaits judicial confirmation. If approved, it would close a case that has lingered since 2023. The outcome may also influence TRON's market position, given the recent minor price movement.
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