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Article: Crypto billionaire Justin Sun settles US fraud case for US$10 million

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5 / 10

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Cryptocurrency entrepreneur Justin Sun has settled a U.S. SEC civil fraud case for $10 million, pending court approval. The SEC had accused Sun and his companies of illegally distributing crypto assets and manipulating trading volume.

The settlement was reached without Sun or his firms admitting or denying any wrongdoing. This resolution occurs amid a broader political push to establish the U.S. as a leading hub for the cryptocurrency industry.

The main topics covered are the legal settlement of a securities fraud case, the allegations of market manipulation, and the political context of cryptocurrency regulation.

Original URL

https://www.scmp.com/news/world/united-states-canada/article/3345633/crypto-billionaire-justin-sun-settles-us-fraud-case-us10-million?utm_source=rss_feed

Source Feed

Tech - South China Morning Post

Published Date

2026-03-05 22:54

Fetched Date

2026-03-05 20:30

Processed Date

2026-03-05 20:31

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Present

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Crypto billionaire Justin Sun settles US fraud case for US$10 million
The SEC sued Sun and his firms for securities fraud in 2023 but put the case on hold following Trump’s return to the White House
Chinese cryptocurrency entrepreneur Justin Sun has reached a US$10 million settlement to resolve a US Securities and Exchange Commission civil fraud case over his trading activity.
Thursday’s settlement requires court approval, with the payment made by one of Sun’s companies.
It came as US President Donald Trump pushes to make the United States a global hub for the cryptocurrency industry.
Sun and his companies did not admit or deny wrongdoing, the SEC said in a letter to US District Judge Edgardo Ramos in Manhattan.
Neither Sun’s lawyers nor the SEC immediately responded to requests for comment.
The SEC sued Sun and his companies Tron Foundation, BitTorrent Foundation and Rainberry in March 2023, claiming they schemed to illegally distribute the cryptocurrency assets tronix and bittorrent, artificially inflate trading volume, and conceal payments to celebrity endorsers.