Chinese crypto founder Justin Sun settles SEC charges for $10M over unregistered token sales and market manipulation.

Chinese crypto entrepreneur Justin Sun has agreed to a $10 million settlement with the U.S. Securities and Exchange Commission to resolve allegations of securities law violations related to the unregistered sale of Tronix and BitTorrent tokens, wash trading, and undisclosed celebrity endorsements. The settlement, pending court approval, involves payment by his company Rainberry, with all claims against Sun, the Tron Foundation, and the BitTorrent Foundation dismissed. Sun and his entities did not admit or deny wrongdoing. The case, paused in 2025 after Trump’s return to office, reflects broader shifts in SEC enforcement under new leadership. Sun is also a major investor in World Liberty Financial, a Trump-linked crypto project, though no official comment was made. The resolution marks a significant development in the agency’s approach to crypto regulation.