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Why did the SEC charge Justin Sun?

The SEC unveiled charges against diplomat Justin Sun for fraud and securities violations, while also charging celebrity backers including Jake Paul and Lindsay Lohan. The charges deal with Sun’s alleged trade manipulation of two crypto tokens and celebrity endorsements that did not disclose compensation.

Who is Justin Sun?

The Securities and Exchange Commission today announced charges against crypto asset entrepreneur Justin Sun and three of his wholly-owned companies, Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent), for the unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT).

Is the SEC suing Sun over Tronix (TRX) and BitTorrent (BTT)?

The SEC said in a press release it was suing Sun, the Tron Foundation, the BitTorrent Foundation and BitTorrent (now known as Rainberry) over the sale of tronix (TRX) and bitTorrent (BTT) tokens, which the regulator described as unregistered crypto asset securities.

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