SEC Halts Case Against Mogul Who Enriched Trump

CNN reports:

A businessman who pumped $75 million into the Trump family-backed crypto token finds himself in a fortunate position this week as federal securities regulators are hitting pause on their civil fraud case against him.

On Wednesday, lawyers for the Securities and Exchange Commission and Justin Sun, a 34-year-old Chinese crypto entrepreneur, asked a federal judge to put the agency’s case on hold, citing the interests of both sides and “the public’s interest.”

The pause is a 180 for the SEC, America’s top financial regulator, which two years ago charged Sun and his companies — Tron, BitTorrent and Rainberry — with selling unregistered securities and fraudulently manipulating the price of digital token Tronix.

Read the full article.

BREAKING

The SEC has just halted its fraud prosecution of Justin Sun, a Chinese national who has put more than $50 million in Trump’s pocket since November through the purchase of crypto tokens from a Trump-backed company, World Liberty Financial. pic.twitter.com/KzPqC6Frht

— Judd Legum (@JuddLegum) February 28, 2025