U.S. SEC Sues Tron Founder Justin Sun and Others Over Violation of Securities Laws

The United States Securities and Exchange Commission (SEC) has charged Tron blockchain founder Justin Sun, affiliated companies, and eight other celebrities over claims of promoting “unregistered securities” and manipulating the market. U.S.

Timeline of Tron

The Tron network has successfully maintained consistent growth in key areas of its operations. The same goes for new weekly milestones and the latest report suggests that it upheld the positive narrative last week.

Justin Sun, the founder of Tron Foundation, responded to a Securities and Exchange Commission complaint which states that he was allegedly engaging in “manipulative trading and unlawful promotion of crypto asset securities." What Happened:  Sun, in a tweet on Wednesday, said the SEC's civil complaint is the “latest example of actions it has taken against well-known players in the blockchain and crypto space.

Justin Sun, the founder of the decentralized exchange platform Tron, has come lashing out at the SEC after the securities regulator sued him for selling TRX and BTT tokens as unregistered securities. This development comes on the same day as the US SEC issued Wells Notice to crypto exchange Coinbase.

Justin Sun, the founder of the Huobi crypto exchange, made an offer to acquire Credit Suisse AG (NYSE: CS) for $1.5 billion. What Happened: Sun wrote in a series of tweets on March 19: “I would like to propose my own offer of $1.5 billion to acquire Credit Suisse and integrate it into the Web3.0 world.

In a recent statement, Justin Sun, the founder of Tron, expressed his view that UBS's bid for Credit Suisse was insufficient. Instead, he proposed his own offer of $1.5 billion to acquire the bank and integrate it into the world of Web 3.0.

Amidst all the chaos in the crypto-markets following the collapse of crypto-friendly banks, Tron [TRX]‘s ecosystem shared its latest weekly report. In doing so, it provided updates on some of its key performance indicators (KPIs).

The current stablecoin turmoil has spread far and wide and no crypto project has managed to stay aloof from its impact. Tron [TRX], the layer-1 blockchain, saw its USD Coin [USDC] supply drop from $1.03 billion at the start of March to just over $530 million as of 12 March, almost getting halved.

Tron reached an important milestone, completing 5 billion transactions. This milestone highlights the growing popularity and wide adoption of this blockchain by developers, companies, and cryptocurrency enthusiasts around the world.

TRON's latest announcement is evidence of its efforts to increase TRX's global adoption and usage. TRON has announced a partnership with the Commonwealth of Dominica to usher in a new era of Web 3.0.

TRON [TRX] burned over 18.74 million tokens over 24 hours until 3 March, as per data from Tronscan. With the number of new tokens generated being flat, the net issuance rate, or the difference in the number of tokens generated and the number of tokens burnt, fell further.