SEC Files Civil Charges Against Tron Founder Justin Sun and Eight Celebrities
The Securities and Exchange Commission (SEC) has filed civil charges against Tron founder Justin Sun and eight celebrities, including Lindsay Lohan, Jake Paul, and Soulja Boy. The SEC alleges that Sun engaged in market manipulation and the unregistered sale of securities involving his crypto assets TRX and BTT. Meanwhile, the celebrities are being charged with not disclosing that they were paid to promote the cryptocurrency. The charges have resulted in over $400,000 in settlements, and SEC Chair Gary Gensler warns of the risks that investors face when crypto asset securities are offered and sold without proper disclosure.