Tron Founder Justin Sun is facing speculation that he could be the next target of the Department of Justice’s crackdown on alleged fraudulent crypto bosses. This comes after the recent resignation of Binance CEO Changpeng Zhao, who reached a $4.3 billion deal with law enforcement authorities. Social media platforms are buzzing with discussions about Sun’s fate, with many predicting that his days are numbered. Sun, who was appointed as Grenada’s ambassador to the World Trade Organization in 2021 but lost his status in 2023, has been accused of plagiarism, fraud, market manipulation, and regulatory evasion. He has also faced lawsuits from the US Securities and Exchange Commission for selling unregistered securities and engaging in wash trading. Industry insiders, including Calvin Ayre, believe that Zhao’s arrest has set the stage for Sun and others to face consequences. The crypto industry has already seen the downfall of entrepreneurs Do Kwon and Sam Bankman-Fried, and now it seems that Sun may be next on the Department of Justice’s list. The SEC has charged Sun with fraud and market manipulation, and he has faced accusations of organizing rug pulls and scamming employees at Huobi. With US law enforcement authorities ramping up their crackdown, the price of Tron’s native token, TRX, could be affected if Sun becomes a target.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇬🇩 🇨🇷 🇲🇪 🇺🇸 |
| Sentiment | negative |
| Relevance Score | 1 |
| People | Justin Sun, Changpeng Zhao, Do Kwon, Joshua Jake, Sam Bankman-Fried |
| Companies | US Securities and Exchange Commission (SEC), Alameda Research, Terraform Labs, Huobi, Montenegro, Securities and Exchange Commission (SEC), Binance, Department of Justice (DOJ), FTX, New National Party, National Democratic Congress, TerraUSD, US President Joe Biden, Tron, Luna, World Trade Organization (WTO) |
| Currencies | TRON |
| Securities | None |
