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News Explorer — Tron Token Sees Selloff After SEC Files Charges Against Founder Justin Sun

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Mar 22, 9:11 pm
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Tron Token Sees Selloff After SEC Files Charges Against Founder Justin Sun

The U.S. Securities and Exchange Commission has charged Tron's founder Justin Sun with market manipulation, fraud, and other charges, causing the native TRX token to plunge. The SEC also accused Sun of manipulating the price of BitTorrent's BTT token, which dropped by 2.3% after the news. The SEC alleges that the two assets are unregistered securities and that Sun gained illicit gains of $31 million from sales of TRX.

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