Yes the SEC is very active they leave no one behind, now it's Justin Sun's turn, the charge over the sale of Tron TRX and BitTorrent (BTT) tokens, which it described as unregistered crypto-asset securities. Also regarding airdrop fraud and market manipulation.
They are very skilled at writing a long list of accusations, the problem now is that Binance contributed to the subscription of BTT so we do not know if the charges will also affect Binance.
In any case, I do not expect the issue to have a significant impact on the market, as we see a significant recovery in the market at the present time, despite all these negative news.
Topic: Justin Sun sued by SEC. Effect on Bitcoin? - page 3. (Read 608 times)
Tron didn't quite deliver on the decentralized project they promised but it stayed afloat, didn't really betray the investors either. Is TRX a security? I don't know, to be honest. The same with btt tokens. Undisclosed payments for celebrities to advertise crypto projects is a dishonest tactic, but I don't see how it has to do with the SEC's area of competence. Perhaps they'll just choose to settle with the SEC for some amount of money. In any case, I don't expect a long-lasting effect on the market from this, not when it comes to the price of Bitcoin.
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Who's that person?? I don't know him at allTron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Ohhh he's the current founder of Tron. The founder who has lots of controversies already way back a few years ago. I can't remember, but there was a time where he said something that caused uncertainties to the whole crypto market. Anyway, I can't see it a stressful at all because after this, Bitcoin will just rise up again.
Will BTC bounce back from this, or will it continue to take a beating? Only time will tell, but I have a feeling this won't be the last we hear about this story.
Yes. It will bounce back.I wish we would see Bitcoin going to touch that $30,000 price resistance this month or even next month. Like you, I don't believe that this is the last negative news that I'll heard in the next few weeks.
Another stressfull news for the community.
Stressful?Maybe you meant stressful for the Tron community, not the entire crypto community.Justin Sun has started having a really bad influence on nearly everything he touches, and lately, all his plans ended in either a failure or a dumpster fire.
But one must see the funny irony in this, just three days ago:
Justin Sun Puts Forward Proposal to Acquire Credit Suisse
Anyhow, this is not bad for BTC is bad for Tron and their shitcoins, one less alt on this over-saturated market just makes it a bit better.
And the timing certainly seems suspicious, doesn't it? Maybe the SEC was trying to distract us from the FOMC meeting with a little crypto drama.
Common, if the SEC would actually go after each suspicious case as they should they could make the news every single week, look at what has happened in all those deals behind every single one of the failures in FTX, 3AC, Genesis, how every single of those stablecoins are backed by empty promises just as bad as Credit Suisse, they have enough material for years to come just on recent events.Besides, the dump started after the FED announcement, 2 pm EST is 18 on this graph
These type of so called innovators in the cryptosphere are just seeking an opportunity and then seizing it the best they can so that everybody eventually falls for the samething they are preaching.
No different than a snake oil salesman from the days of the wild west. But instead in the time of the digital era.
I see Justin Sun and CZ as the cyberpunks of our time.
So he was found to pay certain celebrities in promoting his company's tokens.
"He was also accused of concealing payment to celebrities to promote TRX and BTT on social media accounts, misleading the public into thinking they had 'unbiased interest in TRX and BTT, and were not merely paid spokespersons.'"
source: https://www.reuters.com/legal/sec-sues-justin-sun-others-over-illegal-crypto-sales-2023-03-22/
Seems to be a very shady individual indeed and no wonder his bought lunch with Warren Buffett fell through.
Could be tricked did by Justin Sun how to make his coins network back popular after still existing in lower price and tron network not popular like other network from BSC chain until with ETH network chain. I don't believe with his decision to the SEC Commission have effect with bitcoin, right now not matter how you FUD about bitcoin and what kinds communities can't bring impact for bitcoin drop.
Justin Sun seems frustrated how to get back popular in cryptocurrency, maybe he wants become popular and his coins project can reach to higher price although seems not excited yet after many investor not really interested with tron project coins.
Justin Sun seems frustrated how to get back popular in cryptocurrency, maybe he wants become popular and his coins project can reach to higher price although seems not excited yet after many investor not really interested with tron project coins.
This isnt the first time Justin Sun has troubles with authorities. He already had troubles with Chinas government, when he ran Tron ICO just few days before government ban ICOs, and short after escaped to US. I guess its time for him to move again. When SEC card is played, it is better to watch out. They wont let go easily. I think they will keep on digging in his dirty laundry and find more skeletons in Suns closet.
But seriously, it's not surprising to see the market react to news like this. Investors don't like uncertainty, and legal trouble for a high-profile figure like Justin Sun can certainly create a lot of it.
Justin Son relevance starts and ends on the shitcoin market. This guy is completely irrelevant when it comes to Bitcoin and people woulnd't even know about him if he doesn't make some ridiculous claims and offers (like the one to buy Credit Suisse) every once in a while as a sort or publicity stunt. So no, I don't expect any effect on Bitcoin coming from this news.
The Securities and Exchange Commission (SEC) charged Tron's owner, Justin Sun, with violating securities rules. Justin Sun was found guilty of multiple legal contempts today as he wrestled with the crypto market. I think this simple glitch will have no effect on the Bitcoin market. The current Bitcoin price is at 27.7K and further downside is very likely. No investor should be disappointed by this Bitcoin price decline as it is normal for Bitcoin prices to rise and then fall a bit. I don't think there will be any major impact on the current market as there may be minor issues with cryptocurrency.
There have been many more banking accidents that have caused losses in the crypto market but have since returned to normal levels.
Finally, I want to say that this problem is mainly in the TRX platform. So there is nothing to feel confused here.
There have been many more banking accidents that have caused losses in the crypto market but have since returned to normal levels.
Finally, I want to say that this problem is mainly in the TRX platform. So there is nothing to feel confused here.
I don't see how would this affect bitcoin but my suggestion to everyone is to stay away from these projects until things settle down:
- TRX and BTT (you can already see how the price was affected once the news came out).
- Huobi and Poloniex (I believe he founded the first platform, and he's an investor in the second).
- TRX and BTT (you can already see how the price was affected once the news came out).
- Huobi and Poloniex (I believe he founded the first platform, and he's an investor in the second).
Justin Sun was involved in some shady shitcoin/token stuff, so he deserves some kind of punishment.
I guess that he owns BTC and he might sell it, but it's not some large amount and we shouldn't be worried that Sun selling his Bitcoins would singlehandedly crash the BTC price. The Bitcoin market witnessed a big price pump from 20K to 28K USD and it's time for a correction. Everybody knows that this price pump wasn't steady and the price might be hitting new lows in the future. This is something normal and the Bitcoin newbies shouldn't panic.
Nobody is denying that the US government could attack Bitcoin at some point.
The scammers like Justin Sun have to deal with the consequences of their actions. It doesn't matter if they used altcoins or Bitcoin in their scams.
I guess that he owns BTC and he might sell it, but it's not some large amount and we shouldn't be worried that Sun selling his Bitcoins would singlehandedly crash the BTC price. The Bitcoin market witnessed a big price pump from 20K to 28K USD and it's time for a correction. Everybody knows that this price pump wasn't steady and the price might be hitting new lows in the future. This is something normal and the Bitcoin newbies shouldn't panic.
I'm not as optimistic as some other people in this thread. Whether Tron is a centralized shitcoin is of little importance to the SEC. Anything that is a threat to the US dollar they will try to go after. Tron just happens to be an easy target but it is naive to believe they won't ever go after Bitcoin.
Nobody is denying that the US government could attack Bitcoin at some point.
The scammers like Justin Sun have to deal with the consequences of their actions. It doesn't matter if they used altcoins or Bitcoin in their scams.
I'm not as optimistic as some other people in this thread. Whether Tron is a centralized shitcoin is of little importance to the SEC. Anything that is a threat to the US dollar they will try to go after. Tron just happens to be an easy target but it is naive to believe they won't ever go after Bitcoin.
Maybe the SEC was trying to distract us from the FOMC meeting with a little crypto drama.
The FOMC meeting is of interest and it will affect all financial markets, not just this small crypto market. Apart from crypto investors, no one is interested in this news, you are exaggerating this news.
After declaring all altcoins as securities and the lawsuit between them and XRP not in their favor, I have a feeling SEC is trying to find a way to suppress and find a way to control us. Cryptocurrencies are the target of the SEC, they don't want us to be free anymore. I'm not too worried about news like this, Justin Sun is a celebrity in the market but he is not representative of the market.
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
Similar to what I have mentioned before, there is presently more spot buying on bitcoin than leveraged buying. The instadumping did not make bitcoin drop more than 5% on the closing of the day and we might not anymore witness much of the liquidity cascades that causes these volatile drops on the price this year.
Also, stop this fud. Why are implying that Justin Sun will dump a high amount of bitcoin on us?
Justin Sun may be sued, found guilty, fined, or even jailed, Bitcoin doesn't care. Bitcoin will continue to thrive. Justin's centralized altcoin, Tron, however, will of course collapse along with him. And this will in fact benefit Bitcoin, especially in the long run. It may be a blessing in disguise.
If this happens, Justin won't be dumping his Bitcoin. That's the only thing of value that will be left of him. His centralized crypto companies will be gone together with Tron, a shitcoin as per his own admission.
If this happens, Justin won't be dumping his Bitcoin. That's the only thing of value that will be left of him. His centralized crypto companies will be gone together with Tron, a shitcoin as per his own admission.
What's the relation between Justin Sun and Bitcoin? none, Justin Sun is only focus on his own project e.g. Tron aka centralized coin.
TRON coin and TRON algorithmic stable coin $USDD. Total marketcap of USDD is small now and it is possible for Justin Sun to control its peg. In future if USDD becomes bigger, no chance for a single person like Justin Sun can control its beg and avoid de-peg, death spiral like Terra $UST.Except if TRON and Justin Sun team can revolutionize algorithmic stable coin with something better.
Quote
It's only affect Tron coin, while the recent dump on Bitcoin price has nothing to do with it. If Justin Sun cause an effect on Bitcoin, Bitcoin already become a dead coin because there's always a scam developer or shitcoins become a dead coin in every month.
Recently Bitcoin did not have any dump. It's a very small correct after a long climb from under $16k to nearly $29k. How a minor correction about 3% can be considered as a dump in this volatile market? 
What's the relation between Justin Sun and Bitcoin? none, Justin Sun is only focus on his own project e.g. Tron aka centralized coin.
It's only affect Tron coin, while the recent dump on Bitcoin price has nothing to do with it. If Justin Sun cause an effect on Bitcoin, Bitcoin already become a dead coin because there's always a scam developer or shitcoins become a dead coin in every month.
It's only affect Tron coin, while the recent dump on Bitcoin price has nothing to do with it. If Justin Sun cause an effect on Bitcoin, Bitcoin already become a dead coin because there's always a scam developer or shitcoins become a dead coin in every month.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges
I don't care of this news and I think that we are in a very good time with great chance when regulation on cryptocurrency market is not too strict. There is less regulation on this market than on other markets including market manipulations.With manipulations, market will have high volatility and if you don't gamble with Leverage, Futures, you can enjoy the volatile market. In future if more stricter regulations enforced by governments and authorities, market will less volatile and you will have less chance to buy with great discount prices.
Another stressfull news for the community.
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
Tron founder Justin Sun sued by U.S. SEC on securities, market manipulation charges.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Source of news: https://www.coindesk.com/policy/2023/03/22/tron-founder-justin-sun-sued-by-us-sec-on-securities-market-manipulation-charges/
Why is Justin Sun has an effect on Bitcoin though?
And I think the dump was not due to this news, but to The Fed announces ninth-straight interest rate hike of 25 basis points—here’s what will get more expensive.
And if ever there will be a dump, it should be on Tron and not Bitcoin. And it's obvious by now, it's down to
TRON Price (TRX)
$0.05917
-11.51%
as per CMC.
Not sure though how much BTC he has or will he dump it right away. But I will say that it may not be a secret in the market that Justin might be doing some manipulation behind years ago, he was even called by others as "shill God", hehehe. In any case, he could be done if SEC wins their case against him.
Market insta dumping since the news is out just after the fomc meeting, lol what a timing (seems like its all played and planned). Does anyone know how many btc does justin have to dump on us ?
Bitcoin dumped because FED hiked rates again exactly at the time when it dumped that's why there was a pump first about 30 minutes before the FED's announcement because people were speculating there would be a pivot. Since there was no pivot some traders dumped fearing the following decrease in stock prices would affect bitcoin. Does anyone know how many btc does justin have to dump on us ?
Justin is far more intelligent than that, he knows how good BTC investment is rather than dumping it on the market, these whales will just gladly buy those. The dump was imminent to happen, there are just some factors that adds it. If he dumps it, it will just be temporary, it will recover in no time. 
I am not entirely sure if the market is reacting to this or not, but it shows once again who doesn't want the market to go up. Haven't see this movie before, whenever price goes up, a piece of bad negative news happens and then we start to go back down, it could be luna, it could be ftx, it could be mt.gox finally giving people their money back (and after btc price goes down, decides to "postpone" it) and now justin sun. As we all know the market is being manipulated and not by Justin, it is manipulated by the rich who forces SEC (whose salaries are paid by those rich) to do something about it. All I can say is that this will not be a long term thing and the market will recover for sure.
Jump to: