Justin Sun sued by SEC. Effect on Bitcoin?

[Edwardard]

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/

[1714885902]

1714885902

[1714885902]

1714885902

[1714885902]

1714885902

[1714885902]

1714885902

[decodx]

Wow, sounds like there's never a dull moment in the crypto world!

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. 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.

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.

[Woodie]

What's the worst that can come from this..if Justin Sun loses against SEC I think the worst that can happen is maybe paying some fine nothing more and probably being requested to getting whitelisted for tether to keep being used in this jurisdiction otherwise with so many banks going down at the moment I think the world is distracted and won't affect the markets much.
If anything I believe with banks being  affected which were suppose to be their clients safe house,it's clear crypto is the only answer and price is expected to keep soaring.

[livingfree]

I don't think that there will be much effect on bitcoin with SEC suing him. He can even afford to pay to have a dinner with Warren Buffett and that's a lot of "learning" for him.

Maybe the drop that we recently saw was due to him but then as I look at the market, it's all good and up again. So it seems that the market was quite affected by it but then it has recovered so fast that it makes it look like there's little to no effect at all.

[coolcoinz]

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.

Why wasn't there a bigger panic? Probably because the stocks have taken into account a possible hike and because bitcoin is slowly decoupling from stocks.

Bitcoin doesn't care about a shitcoiner like Sun and his schemes. Shitcoins don't affect bitcoin.

[AmoreJaz]

Wow, sounds like there's never a dull moment in the crypto world!

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. 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.

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.

we know that BTC always bounce back, whatever situation we are in. there were a lot of worst situations that we have surpassed. this one is just another hiccup in this market. but we are still above 25k, wherein, we've been down to 25k since june 2022. so we are still doing good if we refer from that period.
as you said, time will tell when or how the market will going to perform these days. i guess, we just need to observe what's gonna happen next.

[Merit.s]

This will only affect the price of bitcoin to dump a little and I can see that this might be the lowest the price is will dump to or to 26k. Each time I see bitcoin price on correction,I feel happy regardless of what causes the dump because I do see these dumps as an opportunity for bitcoin price to go higher than the recent price. With this news on the suing of Justin Sun by SEC,I will be looking forward to see bitcoin price hits 29k-30k soon. I might be wrong but this is my own observation of the recent price movement since the beginning of this year.

[stompix]

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

[lionheart78]

This will only affect the price of bitcoin to dump a little and I can see that this might be the lowest the price is will dump to or to 26k. Each time I see bitcoin price on correction,I feel happy regardless of what causes the dump because I do see these dumps as an opportunity for bitcoin price to go higher than the recent price. With this news on the suing of Justin Sun by SEC,I will be looking forward to see bitcoin price hits 29k-30k soon. I might be wrong but this is my own observation of the recent price movement since the beginning of this year.

I do not think the news about Justin Sun being sued by SEC will have an effect on the Bitcoin market.  Remember Justin Sun is sued not because of BTC but of manipulating the volume of TRX through wash trading.  If something is about to be affected, I think it should be TRX and other cryptocurrencies to where Justin Sun is affiliated.

The current price retrace of Bitcoin to sub $27k  and temporarily pointing toward $25k is not because of this news but the current interest hike announced by FED[1]. With the announcement, somehow fiat money gains its strength even though banks are failing.

Bitcoin
 slid 4.8% to $26,895.88, according to Coin Metrics. Ether
 fell 4.1% to $1,726.58, following a big move higher on Tuesday.

But somehow as of this reply, Bitcoin price already recovered above $27k.


[1] https://www.cnbc.com/2023/03/22/bitcoin-rises-ahead-of-key-fed-decision.html

[bitmover]

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.

Exactly.

Tron is just one more of many altcoins projects which has little importance in the crypto world.

All the FUD and badnews we saw recently have absolutely zero impact in bitcoin technology and fundamentals.

BUSD, USDC, FTX, justin, musk, nothing of all that matters for bitcoin.

While Banks are collapsing because FED is raising rates and inflation is soaring bitcoin stands as one amazing alternative.  Tron and any other cryptocurrencies are just trying to get some of bitcoin credit, but in the end they are of little importance.

[Die_empty]

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/

It is only the court that can determine if the allegation against them is true or false. Justin Sun was sued together with some celebrities including Akon. SEC alleged that these celebrities promoted Sun's TRX and BTT as if they had interest in them. We know that banks have been on the news for the last few weeks, maybe they want to shift the people's attention to the crypto space. The banking sector have gradually lost it's reputation this few days, maybe they want to also dent the image of some key players in the industry to also give the sector a bad name. The impact of this suit on the price of bitcoin will not be much, hopefully within few days bitcoin will recover.

[suzanne5223]

Does anyone know how many btc does justin have to dump on us ?

No one can tell actually but I don't see the negative impact of Justin Sun's sue by the US SEC with the inclusion of 8 celebrities who were arrested for illegal promotion of TRX and BTT. Everybody knows the drill if you offer some promotion/sale to the US market the US SEC rules and regulations must be obeyed. No matter how powerful anyone maybe once he offers unregistered bounty programs not to mention multiple which were done by Justin Sun he has to face the consequences.
I am glad that the 8 celebrities that promote the movement are also sued because some influencers are the reason why most newbies are victims of scam projects.

[Captain Corporate]

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.

[rhomelmabini]

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.

I think this is the correct way to put it, not because of some celebrity getting sued by the SEC, the Coinbase issue was something like a salt added to the wound too.

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.

[Baofeng]

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/

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.

[SeriouslyGiveaway]

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.

[Helena Yu]

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.

[hd49728]

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.

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?

[Darker45]

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.

[bbc.reporter]

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/

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?

[Iranus]

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.

[FinneysTrueVision]

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.

[davis196]

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.

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.

[OmegaStarScream]

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).

[Popkon6]

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.

[Rikafip]

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.

[bakasabo]

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.

[Oneandpure]

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.

[rdbase]

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

Didn't he put in an offer to buy out FTX and be the so-called savior of the company when it's stock was free falling out of the sky and CZ was proposing to do the same thing but ended up backstabbing SBF and blatantly letting them fail?
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.

[LogitechMouse]

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 all
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.

[kryptqnick]

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.

[yhiaali3]

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.

[OgNasty]

I’m honestly surprised this didn’t happen in 2017. The way that he sold his tokens and then started buying companies on behalf of it seemed a little shady. It never really sat right with me because it smelled of manipulation similar to SBF tactics. Justin was able to stay afloat though. Now that they’re cracking down industry wide, it seems like they’re working through a list of who to get.

[mv1986]

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/

In that regard crypto is still the Wild West because you have so many on and off ramps and sometimes even decentralized exchanges or swap services. I think nobody can imagine how much of that stuff is going on behind the scenes. Sun definitely wasn't the last one who gets caught or pressed charges against. I would still say that TRX is that big of a deal to the whole community. It didn't plummet to zero or anything.

[thecodebear]

SEC is on an anti-crypto rampage.

I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.

Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.

[siniminomorocomunisakito]

The related news about Justin Sun being sued by the SEC has caused the market to react negatively, with a sudden drop in price. for how many Bitcoins Justin Sun had to throw on the market It is unclear. the SEC accusations against him related to securities and market manipulation in my opinion are not directly related to Bitcoin itself. The impact of this news on the Bitcoin price may be temporary and contingent on the outcome of the lawsuit.

[ololajulo]

I’m honestly surprised this didn’t happen in 2017. The way that he sold his tokens and then started buying companies on behalf of it seemed a little shady. It never really sat right with me because it smelled of manipulation similar to SBF tactics. Justin was able to stay afloat though. Now that they’re cracking down industry wide, it seems like they’re working through a list of who to get.

This is mere witchhunt and will generate a lot rumor around is relationship with CZ.binance. it is overdue after so many years. They will demands a settlement out of court and will play a sane system without corruption.

[decodx]

I see Justin Sun and CZ as the cyberpunks of our time.

That's a bad analogy. According to my recollection, the cyberpunk movement is a subculture that embraced computer technology, hacking, and science fiction. Cyberpunks were often associated with a DIY (Do-It-Yourself) ethic and a rejection of mainstream values.

Similarly, Bitcoiners are often seen as rejecting traditional financial institutions and embracing a decentralized, digital currency. They may also be associated with a DIY attitude towards finance and the use of technology to disrupt the traditional financial system. Therefore, in my opinion, all true bitcoiners are the cyberpunks of our time.

[The Cryptovator]

If you only consider the impact on Bitcoin, you would be mistaken. News can have ripple effects throughout the entire cryptocurrency market. This was evident in the recent market downturn, where not only Bitcoin but all altcoins experienced a sharp decline. It is clear that the cryptocurrency market is highly reactive to news. It seems that whenever Bitcoin experiences growth, an unexpected attack occurs, causing a downturn in the entire industry. The negative impact of news on the cryptocurrency market as a whole cannot be overstated.

[serjent05]

The current market recovery after it plummets to sub $27k  the past days had shown that the case of Justin Sun being sued by SEC has no effect on Bitcoin at all.  The only market that reacts to this issue is TRX but it is just momentary because the price of TRX is recovering now.

Justin Sun is not affiliated with Bitcoin even though he may be holding a huge amount of Bitcoin.  Also, Justin Sun does not represent any Bitcoin company that is why thinking that  Bitcoin market will react to the issue is just overthinking.

If you only consider the impact on Bitcoin, you would be mistaken. News can have ripple effects throughout the entire cryptocurrency market. This was evident in the recent market downturn, where not only Bitcoin but all altcoins experienced a sharp decline. It is clear that the cryptocurrency market is highly reactive to news. It seems that whenever Bitcoin experiences growth, an unexpected attack occurs, causing a downturn in the entire industry. The negative impact of news on the cryptocurrency market as a whole cannot be overstated.

If ever there is a ripple effect then that is XRP investors shifting to Bitcoin. Which possibly happening because Bitcoin had a fast recovery after the announcement of FED about the interest rate hike.

[bbc.reporter]

SEC is on an anti-crypto rampage.

I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.

Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.

Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.

[mv1986]

SEC is on an anti-crypto rampage.

I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.

Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.

Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.

But what is the exact situation in the USA if for that matter Biden's administration goes hard on crypto and passes some laws. Is there still a certain federal freedom from state to state to actually bring that law into effect or could some rather pro crypto states first sue and go to the highest court before complying with what Biden says? Or do they have the freedom in every state to be more welcoming to crypto in general? That is the problem I see with the EU except for Switzerland. If the EU pushes for regulation, it is a lot of states that have to comply and the EU has the possibility to sanction states that don't comply. I guess crypto isn't worth defending in exchange for being sanctioned (yet).

[kelechi]

I don't think it will somehow affect btc cuz Justin Sun mostly was related to luna

[molsewid]

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/

It will not affect too much or maybe even a little. It can only affect to those tokens that are related to him other than that there's nothing to be afraid of. We all know Justin maybe? but I would rather say if CZ is the one who is being sued maybe that will affect bitcoin. SEC never fail to surprise us. I just wondering if what projects will be the next target of SEC?

[bbc.reporter]

SEC is on an anti-crypto rampage.

I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.

Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.

Agreed. This coordinated campaign by the American government, regulators and politicians against the cryptospace will be considered as one of the biggest errors in the history of financial technology. The adoption of the whole cryptospace cannot be stopped by Gensler and the developments created in America will clearly go to other countries.

But what is the exact situation in the USA if for that matter Biden's administration goes hard on crypto and passes some laws. Is there still a certain federal freedom from state to state to actually bring that law into effect or could some rather pro crypto states first sue and go to the highest court before complying with what Biden says? Or do they have the freedom in every state to be more welcoming to crypto in general? That is the problem I see with the EU except for Switzerland. If the EU pushes for regulation, it is a lot of states that have to comply and the EU has the possibility to sanction states that don't comply. I guess crypto isn't worth defending in exchange for being sanctioned (yet).

I am not quite certain about the exact situation, however, it appears that the SEC is creating an environment that is very much discouraging for the cryptospace.

Also, while this comedy show in America begins there are other jurisdictions like El Salvador that are making the correct assessment and they are creating an encouraging environment.



El Salvador President To Eliminate All Taxes on Technology Innovations

In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.

Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,

"Next week, I’ll be sending a bill to Congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development, as well as computing and communications hardware manufacturing.”

Source https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations

[sha420hashcollision]

Maybe Justin should have considered the consequences of following in the footsteps of Vitalik Buterin, forking his code, and marketing people on a scammy poorly developed insecure blockchain with glaring censorship problems.

[Edwardard]

I don't think it will somehow affect btc cuz Justin Sun mostly was related to luna

What are you talking about mate ? Justin is related to TRX (tron) not luna. Meanwhile, there is also a new recent news that Do Kwon or whatever his name is (the founder of luna) got arrested in Montenegro.
Btw, its glad to see such ppl going to jail. They even made few ppl commit suicide out of their scam.

Maybe Justin should have considered the consequences of following in the footsteps of Vitalik Buterin, forking his code, and marketing people on a scammy poorly developed insecure blockchain with glaring censorship problems.

I dont think eth is that bad

[Ayers]

SEC is on an anti-crypto rampage.

I'm more worried about the fact that the SEC just notified Coinbase that they basically consider Coinbase's entire operation illegal. They notified Coinbase that they are planning to come after them not just for their staking service, but their Coinbase Earn stuff, their Wallet service, and their exchange!! Like, that's the entire company! I can't imagine how SEC will make a case against the entire business but it is clear Gary Gensler and the SEC are on an anti-crypto rampage and they would like to take the entire industry down. We've got a lunatic running the SEC.

Hopefully the courts shut down the SEC's anti-crypto tirade and puts Gensler in his place. Cuz its insane that the SEC just wants to shut down the industry in America. We are definitely entering a period when the US government is starting to attack Bitcoin and Crypto. Hoping the courts and/or Congress push back on this sort of anti-crypto stuff before it gets bad. We need politicians and regulators who actually understand what Bitcoin is, and have more of a knowledge of it than just what they read in negative headlines.

I have a different view, they are not against cryptocurrencies, they are doing is showing power and wanting to enter the market and regulate it. They don't want the cryptocurrency to grow freely, and they don't get any benefit from it. They intentionally make it difficult for the market and intentionally create false evidence that the crypto market is dangerous and risky for investors if not regulated so that they get support and get a legal takeover. As far as I know, the SEC and CFTC are vying for the right to regulate cryptocurrencies.

[darewaller]

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 all
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.

As far as I know Tron didn't change founders but it was still Sun (please correct me if I miss out something here) and yeah this wasn't the first issue they got involved with. They already have others in the past, this is why many people lose trust in the coin because they are afraid that it's going to be the next that will go down the drain. This news is still negative especially to those who hold Tron.

This can make someone stressed but for those who HODL other coins, they must not worry as their coins can still recover in case it will be affected a little. The price of BTC was still over $28k so $30k was still achievable. Negative news are always there but let's hope that they won't come very often.

[mv1986]

I am not quite certain about the exact situation, however, it appears that the SEC is creating an environment that is very much discouraging for the cryptospace.

Also, while this comedy show in America begins there are other jurisdictions like El Salvador that are making the correct assessment and they are creating an encouraging environment.



El Salvador President To Eliminate All Taxes on Technology Innovations

In a recent tweet, Bukele notes that all taxes, including income, property, and capital gains, as well as import tariffs, will be eliminated. Additionally, this hasn’t come to fruition yet. The President said that he will be sending a bill to Congress next week.

Furthermore, the President notes that “technology innovations” will include AI development, coding, and apps, among others. Elaborating on the same, Bukele tweeted,

"Next week, I’ll be sending a bill to Congress to eliminate all taxes (income, property, capital gains, and import tariffs) on technology innovations, such as software programming, coding, apps, and AI development, as well as computing and communications hardware manufacturing.”

Source https://watcher.guru/news/el-salvador-president-to-eliminate-all-taxes-on-technology-innovations

This is what would certainly be happening if countries like the USA decide to create a hostile environment. I am saying "country" because the SEC alone can't destroy an industry , no matter how independent they are. If there is consensus about the approach to a certain technological development, I am sure the SEC would follow any instructions or would commit to basic agreement about how to approach new developments in whatever area. Why the SEC is turning hostile is raising questions for me. It is inconsistent to some degree because if they really wanted to crack down on the industry, they could take measures with much harder impact on the crypto space. I think for now we can only be patient and see how it plays out. But if they crack down on it, it is the smaller countries that will take initiative and try to benefit from potential foregone opportunities by the larger economies.

[bbc.reporter]

@mv1986. Another argument on why the American government has made a wrong assessment and the wrong action on cracking down the cryptospace is because of the stablecoin argument. Much of the stablecoins in existence are American dollars and stablecoins can become as a mechanism for worldwide distribution for American dollars for people to use American dollars. If they take this down, it will give away an opportunity to the Chinese Yuan to widen their distribution mechanisms for their own currency. 

[BALIK]

Sun is a well-known figure in the market, but the news will not be too big to affect the market and bitcoin. Recently CZ was also sued by the CFTC, and bitcoin immediately reacted to this news, if CZ is prosecuted, it will be a bigger problem that we have to fear because the influence of CZ on the market is too great. The CFTC and the SEC are vying for control of cryptocurrencies, so they are constantly targeting crypto individuals and institutions. But sometimes fud is not necessarily a bad thing but a good signal to buy cheap BTC.

[electronicash]

is anyone wishing this guy actually ending up paying all his money to SEC?

he keeps trying to grab attention and even attempts to buy a bank using a Twitter post. well, he must have manipulated the market with the billions of TRX he has. he must be guilty but then again part of me still wishes him to win the case.

[sha420hashcollision]

These centralized actors always act against bitcoin in the end because they cant control it.

[bbc.reporter]

is anyone wishing this guy actually ending up paying all his money to SEC?

he keeps trying to grab attention and even attempts to buy a bank using a Twitter post. well, he must have manipulated the market with the billions of TRX he has. he must be guilty but then again part of me still wishes him to win the case.

He has diplomatic immunity because he is presently the Ambassador for the country of Grenada to the World Trade Organization hehehe. They call him His Excellency Justin Sun.

There are also some speculations that he is really protected by the Chinese government. Changpeng Zhao of Binance is also speculated to have some backers from influential people from China.

[BenCodie]

Tron does not have anything to do with Bitcoin. Justin Sun being sued by the SEC would (if anything) only effect Tron [TRX]. If anything is more likely to effect Bitcoin it would be the CTFC suit against Binance, as if the result is for the exchange to shut down, it would mean the company would probably liquidate its holdings after users have withdrawn.

[FahriZah]

Never Thinking SEC Who Justine Sun And Anymore If Anyone Want Stops Crypto Currency & Bitcoin It's Not Possible Because Crypto Currency One Of The Most Popular Currency In The World's So Never Effect For Justine Sun Sued In The Bitcoin.

[The Sceptical Chymist]

But somehow as of this reply, Bitcoin price already recovered above $27k.

Yep.  Bitcoin somehow doesn't give a shit about what any government does (so far, anyway). 

So the SEC is claiming TRX is a security?  Are they considering all cryptocurrencies, including bitcoin, to be such as well?  I haven't paid much attention to what's been going on as far as regulation goes.  It is kind of funny to hear that all of those celebrities are being sued as well.  Celebrity endorsement is exactly what crypto doesn't need, as evidenced by Matt Damon hyping FTX or whatever that was he got paid for.  It just attracts the attention of 'regulators' who really want to do away with bitcoin and every other crypto as well.

[sha420hashcollision]

The reality is that most "altcoins" are securities simply because they had huge insider pre-mints and also do not have a fixed monetary policy. Bitcoin has evidently burned the majority of the initial distribution at this point, has no insiders, and also has a fixed monetary policy. It has no CEO, no "shareholders", it was not pitched as an investment or distributed to anyone before it's launch. Bitcoin set an amazing example and such is not being considered a security by the SEC, altcoins saw that shit all over it and now the SEC is going after them. Seems like fair game to me.

[Franctoshi]

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 ?

It is becoming worrisome why SEC is not being specific with their regulations on cryptos, what should be called security and what should be called commodity, they're just going around hunting and sueing people. Ripple case is still not settled yet, now it has become Tron founder. We could see how the Ripple case has so far affected the price of xrp, and just as it was news that Tron founder got sued, the price of Trx plumet.

Generally it may have a short term effect on the price of Bitcoin, However, since then the price of Bitcoin has continued to rise.
The SEC should stop playing politics and come out with regulatory clarity on cryptos, in order for people to follow the guidelines.

[sha420hashcollision]

Both XRP and Tron are hugely pre-mined centralized operations that constantly use the free money they have to bash Bitcoin. You should avoid them like the plague, I dont care for the govt but I vote to feed these fuckers to the beast at this point. From my perspective they are ponzi scheming the fuck out of all of their supporters, and the supporters just ride on stockholmes syndrome and naive moon boy math all the time. Its sickening and its happening everywhere. That is the opposite of what Bitcoin is trying to achieve.

[teosanru]

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/

I think this is something which is very old. I mean I remember during the bull run of 2017 there were a lot of allegation on Justin Sun around this manipulation of the market, main thing being they had a lot of centralized coins held by the developers which they used to sell at good prices and later dump the markets because of these sells. I feel however this isn't really going to help these people will still get away from the eyes of law no matter what happens. Also any effect of this on market will be very temporary so you shouldn't really worry about any such thing.

[justdimin]

But somehow as of this reply, Bitcoin price already recovered above $27k.

Yep.  Bitcoin somehow doesn't give a shit about what any government does (so far, anyway). 

So the SEC is claiming TRX is a security?  Are they considering all cryptocurrencies, including bitcoin, to be such as well?  I haven't paid much attention to what's been going on as far as regulation goes.  It is kind of funny to hear that all of those celebrities are being sued as well.  Celebrity endorsement is exactly what crypto doesn't need, as evidenced by Matt Damon hyping FTX or whatever that was he got paid for.  It just attracts the attention of 'regulators' who really want to do away with bitcoin and every other crypto as well.

That's the amount of attention they deserve anyway. Whatever SEC decides, they can do it and we won't care about it because that's not a big deal for us. We should be just focusing on what we could do with what we have and that is going to be the key for us.

I believe that we should be saving our care for what happens inside crypto world anyway, because it is already crowded with plenty of news, anything big happening in the crypto world would get my attention but whatever SEC thinks about bitcoin or other cryptos would not get any attention from me at all. I believe that they considered it a security because Justin sun was so involved and profited from it, so it differs from bitcoin.

[mich]

Well it does not look like it made a bad effect on Bitcoin. Price of Bitcoin is still price for each coin of 28k or more. We might have predicted a loss in the price but now we can be certain no effect from Justin Sun being sued.
I am not certain if it has something to do with it. But Justin Sun has made the offer to buy 41,500 Bitcoin in control of the US Government for a 10% discount. https://news.coincu.com/177777-trons-justin-sun-offers-to-buy-41500-btc/

[rdbase]

Now Binance has announced they will removing Justin Sun's Tron token off their platform possibly from this court filing against the Tron Network by the SEC:
https://blockworks.co/news/binance-delist-tron-trx

[sha420hashcollision]

Very ironic, Binance is under the exact same scrutiny yet they want to de-list others based on the same claims?

[majeed]

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/

Man, it's stressful as heck for the community to hear that Justin Sun's getting sued again by the SEC on securities and market manipulation charges. It's like we can't even catch a break! And then the market just straight up dumps right after the FOMC meeting? Seems like everything's been planned and played out already. But hey, let's keep in mind that Justin Sun's legal problems won't really mess up the whole crypto market. Like that smart dude once said, "This too shall pass!" We don't know how much BTC Justin has to dump, but it's probably not enough to totally mess things up. So, let's just kick back, relax, and enjoy the ride!

[Accardo]

Justin Sun did a massive promotion for the unauthorized tokens which made it sell out in millions, celebrities like Akon were penalized for promoting such a project. The market will always have such news, it's not new, we should be getting used to such ill information on top cryptocurrency business owners. I feel bad for the fine those celebrities paid, its not their fault to fall into such situation and promoting a project given to them by Justin sun, it may not have given them the slightest need to research the projects, the Government didn't do well about the penalty issued to the artists, so many cryptocurrency influencers did promote that same project, but it was not written anywhere in the article about paying a penalty, yet the famous ones were penalized for not informing the public that it's a sponsored promotion.

[lionheart78]

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/

Man, it's stressful as heck for the community to hear that Justin Sun's getting sued again by the SEC on securities and market manipulation charges. It's like we can't even catch a break! And then the market just straight up dumps right after the FOMC meeting? Seems like everything's been planned and played out already. But hey, let's keep in mind that Justin Sun's legal problems won't really mess up the whole crypto market. Like that smart dude once said, "This too shall pass!" We don't know how much BTC Justin has to dump, but it's probably not enough to totally mess things up. So, let's just kick back, relax, and enjoy the ride!

Stressful for the Tron community but I don't know about the Bitcoin community.  As you see the Bitcoin market does not react to this news.  The Bitcoin market continue as if nothing happens.  I don't even see any news that highlights the reaction of BTC in relation to the news. It only implies that the Bitcoin community does not care about the person.  Justin Sun is a TRX guy, so it has a massive effect on Tron, and at the present, the effect of the news had subsided because Tron is already recovering.

This means the Bitcoin market had matured enough and had developed its resistance to unrelated news such as the one stated by @OP.  Bitcoin does not even react heavily to the news about CZ being sued by CFTC and CZ has a bigger image than Justin Sun.

[tiCeR]

Justin Sun did a massive promotion for the unauthorized tokens which made it sell out in millions, celebrities like Akon were penalized for promoting such a project. The market will always have such news, it's not new, we should be getting used to such ill information on top cryptocurrency business owners. I feel bad for the fine those celebrities paid, its not their fault to fall into such situation and promoting a project given to them by Justin sun, it may not have given them the slightest need to research the projects, the Government didn't do well about the penalty issued to the artists, so many cryptocurrency influencers did promote that same project, but it was not written anywhere in the article about paying a penalty, yet the famous ones were penalized for not informing the public that it's a sponsored promotion.

Are you saying that when a celebrity decides to promote a project and even gets paid for it that the celebrity is not to blame? As far as I know they haven't publicly announced that it was paid promotion. That's why they had to pay a fine and I think that is the way it should be.

When you read the SEC's announcement I am sure that they must have lots of proofs. They would just announcement some baseless accusations and when he did engage in wash trading, manipulating volume and prices in order to wreck his own community, I think it's right to see him getting sued. They also seem to have some whistleblowers or email material where Sun demanded his employees to actively engage in wash trading.

I wonder though how this will end for him. But the celebrities as well. Often times the harm is done, they pay a fine but the victims are left alone afterwards. Someone like Jake Paul can easily pay $65k. They paid a total of $400,000 combined with six people I believe.

[Fivestar4everMVP]

Very ironic, Binance is under the exact same scrutiny yet they want to de-list others based on the same claims?

Lolz, you don't have to blame binance for taking such a rash decision though, personally, If I was to state what is playing out, I would say that, binance is just trying to avoid getting into more troubles, seems the one they are dealing with is already too heavy enough for them 😁.

But then, one thing i am happy about is that, even in the midst of this chaos, Bitcoin, and the crypto market in general has relatively been stable, with some greens from time to time, this shows that all this negative news didn't actually move investors to want to dump, really impressive.

[Vispilio]

https://news.bitcoin.com/clock-ticks-slower-for-justin-sun-and-rainberry-court-grants-extension-amid-sec-allegations/

Justin Sun has now till December to respond,

but on another unrelated matter, after SBF's sentence, he can also be tried for what happened on the last day of FTX trading, where he offered "lifeline" TRX withdrawals, causing Tron to skyrocket within the exchange as investors were paying 4-5x market price to buy and exit with Tron and TRC20 tokens from the failing FTX exchange, he might be the only party to walk away with extravagant profits that day, at the expense of FTX users...