The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Justin Sun, accusing him of selling unregistered securities offerings, manipulative trading, and illegal promotion of crypto assets, involving the enlistment of celebrities to boost public interest in TRX and BTT tokens.

A legal document filed on March 22 in the Southern District of New York names Sun and his companies — the Tron Foundation, the BitTorrent Foundation, and Rainberry as defendants, alleging that Tron (TRX) and BitTorrent (BTT) tokens were securities.

The list of high-profile celebrities that endorsed TRX and BTT includes American rapper DeAndre Cortez Way, better known as Soulja Boy, American rapper Miles Parks McCollum, also known as Lil Yachty, singer Austin Mahone, actress Lindsay Lohan, YouTube personality Jake Paul and musician Aliaune Thiam, who goes by the name Akon. Additionally, Akon played a significant role in the development of ‘crypto cities’ in Senegal and Uganda.

According to the SEC, these individuals and bu

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Author: Bralon Hill

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