# Crypto News

By [Sunny Gujjar](https://paragraph.com/@sunny-gujjar) · 2023-03-23

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According to U.S. court documents, the U.S. Securities and Exchange Commission (SEC) formally sued Justin Sun, the founder of TRON and a member of Huobi’s Global Advisory Council, for allegedly illegally selling securities, defrauding and manipulating the market. It is reported that the SEC stated in a press release that it is suing Justin Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent (now known as Rainberry) for selling tronix (TRX) and BitTorrent (BTT) Token, describing it as an unregistered encrypted currency, and further accused Justin Sun of fraudulently manipulating TRX's secondary market.

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*Originally published on [Sunny Gujjar](https://paragraph.com/@sunny-gujjar/crypto-news-2)*