SEC Ends Case Against Crypto Billionaire Justin Sun (3)

The US Securities and Exchange Commission said it will end its lawsuit against crypto billionaire Justin Sun and a firm affiliated with him will pay $10 million, as the regulator continues to resolve the spate of digital asset enforcement cases brought during the Biden administration.

The SEC sued Sun in 2023, alleging he committed securities fraud and bilked investors by working with companies he owned and controlled — the Tron Foundation, BitTorrent Foundation Ltd., and Rainberry Inc. — to sell unregistered securities.

The regulator said at the time that Sun artificially boosted the trading volume of Tronix, the ...