Justin Sun has reignited the TRON Foundation, coinciding with the third delay of his impending fraud and market manipulation trial. This decision unfolds against his ongoing legal confrontation with the U.S. Securities and Exchange Commission (SEC).
The SEC’s initial lawsuit implicated Sun and celebrities DeAndre Cortez Way (SouljaBoy) and Austin Mahone in a scheme involving undisclosed payments for TRON and BTT (BitTorrent) tokens advertising, possibly manipulating the market. While Way faced a default judgment and Mahone settled in August 2023, Sun has opted to challenge the SEC.
Continued Legal Wrangling
September witnessed Sun’s first court appearance postponement, attributed to three key factors: the need to reestablish the TRON Foundation, await outcomes from the SEC v Ripple Labs case, and seek additional time for a potential settlement with the SEC.
A subsequent delay in December was requested to align legal responses among Sun’s various entities, including the BitTorrent Foundation and Rainberry, and to explore settlement options.
Currently, no definite date is set for Sun’s court appearance. The consolidation of the defendants’ responses is expected to be revealed on February 16. Yet, another extension request by Sun’s legal team, Fenwick & West, likely further prolongs the saga.
This latest development in Justin Sun’s legal strategy highlights his resilience and tactical planning. As the situation evolves, the crypto community remains observant of these events’ impact on the broader digital currency landscape.