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Cryptonews Official
12ساعة
SEC in talks to stay the civil fraud case against TRON founder Justin Sun
The U.S. Securities and Exchange Commission is considering pausing its civil fraud case against TRON founder Justin Sun to explore a possible resolution that could benefit both parties and the public.
In a letter sent on Wednesday to the U.S. District Judge Edgardo Ramos in Manhattan, attorneys representing Sun and the SEC requested a pause in the case, proposing to provide a status update 60 days following the stay, as originally reported by Reuters . The case , filed in March 2023, accuses Sun and his companies of illegally distributing Tronix ( TRX ) and BitTorrent ( BTT ) and artificially inflating TRX trading volume.
Specifically, the SEC accused Sun of selling TRX and BTT tokens as investments without proper registration through unregistered “bounty programs.” These programs encouraged interested parties to promote the tokens on social media and chat groups, and create BitTorrent accounts in exchange for receiving TRX and BTT. The SEC also claimed that Sun and his companies conducted monthly giveaways of BTT to U.S. investors who already held TRX in their wallets or on certain exchanges.
Additionally, the SEC accused Sun of wash trading, creating the illusion of active trading and liquidity in the markets for these tokens. Specifically, from April 2018 to Feb. 2019, Sun allegedly instructed his employees to carry out over 600,000 wash trades of TRX using two trading accounts he controlled. These trades involved manipulating the market with daily wash trades of between 4.5 million and 7.4 million TRX. To execute this scheme, Sun allegedly supplied a large quantity of TRX. Additionally, he was accused of selling TRX in the secondary market, which resulted in $31 million in proceeds.
Finally, Sun also hired several high-profile celebrities to promote these tokens without disclosing their compensation. The SEC has also charged eight celebrities, including Lindsay Lohan, Akon, and Austin Mahone, for unlawfully promoting TRX and/or BTT without revealing that they were paid for these endorsements and the specific amounts they received.
Prior to this, Justin Sun was in another legal spotlight when the blockchain protocol Chain considered taking legal action against him. This was sparked by Sun’s allegations that the company was involved in Onyxcoin ( XCN ) market manipulation—an accusation that seems particularly ironic in light of the Sun’s charges filed by the SEC.
Sun made these allegations in a post on Jan. 24, claiming that Chain was using high leverage and contracts that could harm exchange users. He suggested that crypto exchanges should be cautious and indicated he would report Chain’s supposed illegal activities to the SEC and DOJ. In response, Chain rejected Sun’s accusations, stating that it does not engage in trading its XCN and pointing out that the XCN token is managed by OnyxDAO. Following this, Sun reiterated his accusations, this time directing attention to OnyxDAO and urging regulatory bodies to investigate.
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BRIA_Quen
2025/02/21 04:32
The bulls are in control in today’s session, as seen from the increase in the global market cap. The total cap stood at $3.2T as of press time, representing a 1.47% increase over the last 24 hours, while the trading volume also dropped by 18% over the same period to stand at $83.2B as of press time.
Bitcoin Price Review
Bitcoin, $BTC, has posted small gains in today’s session, as seen from the price movements. Looking at an in-depth analysis, we see that the bollinger bands are widening, indicating increasing volatility. The price is approaching the upper band, signaling possible overextension.
On the other hand, we see that the Awesome Oscillator (AO) is showing a shift towards positive momentum, with green bars emerging after a prolonged bearish phase. Bitcoin traded at $97,232 as of press time, representing a 1.6% increase over the last 24 hours.
Ethereum Price Review
Ethereum, $ETH, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the moving averages are intertwined, suggesting a lack of trend direction. A breakout is needed.
On the other hand, we see that the relative Strength Index (RSI) is currently at 55.47, indicating a neutral stance with slight bullish potential. Ethereum traded at $2,729 as of press time, representing a 0.52% increase over the last 24 hours.
Bittensor Price Review
Bittensor, $BTT, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that the Bittensor price is above the cloud, signaling an uptrend. The future cloud is turning green, reinforcing bullish sentiment.
On the other hand, we see that the Volume Oscillator is dropping, indicating a potential slowdown in buying pressure. Bittensor traded at $0.068479 as of press time, representing a 0.09% increase over the last 24 hours.
Berachain Price Review
Berachain, $BERA, is also among the gainers in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that BERA has surged and is trading at $7.517, above the Supertrend support of $6.471. A clear bullish trend as the price remains above the green Supertrend line.
On the other hand, we see that the Money Flow Index (MFI) is at 82.34, suggesting overbought conditions and potential for a pullback. Berachain traded at $7.62 as of press time, representing a 16.15% increase over the last 24 hours.
Sei Price Review
Sei, $SEI, has also made it to the gainers list in today’s session as also seen from its price movements. Looking at an in-depth analysis, we see that SEI is currently below the 200-SMA, which acts as a key resistance level. A breakout above this level would indicate a stronger bullish trend.
Looking at the volume delta, we see that a notable increase in buying volume is evident, suggesting stronger market interest and the potential for an extended upward move. Sei traded at $0.2499 as of press time, representing a 11% increase over the last 24 hours.
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Coinedition
2025/02/15 05:45
TRON Memecoin Revival? SunPump Sees Surge in Token Activity
The TRON ecosystem is witnessing a resurgence in memecoin activity, particularly on the SunPump platform. New data reveals a major jump in transactions per token, signaling a fresh wave of interest in meme assets built on TRON.
According to Satoshi Club, over 95,000 tokens have been created on the network since August. Total transactions have blown past 2.84 million now. This sudden increase in activity raises speculation on whether TRON’s memecoin season is making a strong comeback.
The TRON ecosystem currently holds a market capitalization of $22.05 billion, reflecting a 2.75% decline. Additionally, the ecosystem recorded a 24-hour trading volume of $715.13 million, representing a 23.35% drop. Despite these figures, TRON’s top tokens continue to exhibit varying price movements.
TRON (TRX) remains the dominant token, trading at $0.2334. It recorded a 0.65% gain in the last hour, a 2.73% decline over 24 hours, and a 2.28% increase over the past week. TRX holds a market capitalization of $20.09 billion, with a daily trading volume of $511.43 million and a circulating supply of 86.09 billion tokens.
Related: Tron’s SUN Token Burn: First-Ever Event Following SunPump Success
BitTorrent (BTT) follows, priced at $0.0008822, with a 0.67% gain in the past hour, a 1.02% increase over 24 hours, and a 2.68% weekly rise. BTT has a market cap of $869.92 million and a daily trading volume of $17.73 million, with 986.06 trillion tokens in circulation.
APENFT (NFT) is currently valued at $0.0004398, reflecting a 0.25% hourly increase, a 2.28% decline in 24 hours, and a 0.79% drop over the past seven days. The token’s market cap is $439.80 million, with a trading volume of $23.00 million and a circulating supply of almost 1 quadrillion NFT.
Meanwhile, JUST (JST) trades at $0.03333, recording a 0.23% increase in the last hour, a 1.65% drop over 24 hours, and a 2.44% gain in the past week. JST has a market capitalization of $329.95 million, with a 24-hour trading volume of $33.63 million and a supply of 9.9 billion tokens.
The SunPump ecosystem shows signs of growth, with its total market cap reaching $48.80 million, reflecting a 3.64% increase. However, trading volume decreased by 8.03% over the past 24 hours, settling at $27.55 million.
SUNDOG (SUNDOG) leads the SunPump ecosystem, priced at $0.03622. It recorded a 4.08% hourly increase, a 9.76% rise in the last 24 hours, and a 13.20% gain in seven days. Its market cap stands at $36.12 million, with a trading volume of $24.51 million and a circulating supply of 997.42 million SUNDOG.
Tron Bull (BULL) follows, trading at $0.005153, with a 0.19% hourly gain but a 4.45% decline over 24 hours and a 13.31% weekly drop. Its market capitalization stands at $4.89 million, with a daily trading volume of $341,799 and 950.27 million tokens in circulation.
Related: TRON DeFi Explodes with SunPump Launch, DEX Volumes Surge 150%
Tron Bull (TBULL) is valued at $0.002825, experiencing a 0.55% decline in the last hour, an 11.71% drop over 24 hours, and a 10.83% decrease in seven days. It has a market cap of $2.82 million, with a daily trading volume of $608,565 and a supply of 999.99 million TBULL.
SUNCAT (SUNCAT) is priced at $0.001739, rising 0.68% in the past hour, gaining 1.24% over 24 hours, and increasing by 8.91% over seven days. It holds a market capitalization of $1.73 million, with a trading volume of $1.61 million and 1 billion tokens in circulation.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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Egetasebe
2025/02/08 16:33
Justin Sun looking toward Microstrategy alternative to increase Tron ($TRX) buying & price
This wee
Justin Sun looking toward Microstrategy alternative to increase Tron ($TRX) buying & price
This week, Justin Sun many times talked about Bitcoin bull firm Microstrategy & increasing the trade price of $TRX; probably he is giving a very big hint about which the whole crypto space is unaware.
Justin Sun is a popular but controversial crypto entrepreneur. He is known in the crypto space for his multiple crypto projects, e.g. Tron ($TRX), $Sun coin, $BTT coin, ApeNFT coin, Just coin, win coin, Huobi Global exchange, Poloniex crypto exchange, etc. In 2023, the United States Securities and Exchange Commission (SEC) imposed multiple charges against Tron’s founder for offering an unregistered security token in the US jurisdiction without any regulatory approval or permission.
In a new post on X (formerly Twitter), Justin Sun shared his thoughts on Microstrategy’s Big Bitcoin holding strategy & said how a .