April

BitTorrent

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">According to <a href="https://www.straitstimes.com/singapore/us-district-court-issues-summons-to-crypto-mogul-justin-sun-in-singapore" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">a report</a> from Thursday, April 13th, the Securities and Exchange Commission issued a summons giving 21 days to Justin Sun to respond to a lawsuit filed against him last month. Similar summons have allegedly been issued to Soulja Boy and Austin Mahone, celebrities targeted in the same SEC action.</p> 
<h3 id="justin-sun-has-21-days-to-respond-to-the-recent-sec-complaint">Justin Sun Has 21 Days to Respond to the Recent SEC Complaint</h3> 
<p>This Thursday, the Securities and Exchange Commission issued a summons to Justin Sun giving him 21 days to respond to a lawsuit filed on March 22nd. If the Tron DAO founder fails to respond within the allotted time, he may face a judgment by default granting the SEC’s request indicated in the complaint.&nbsp;</p> 
<p>Deandre Cortez Way, better known as Soulja Boy, and Austin Mahone, a well-known YouTuber—the celebrities also involved in the case—were allegedly issued a similar summons. Without offering additional context, Justin Sun <a href="https://twitter.com/justinsuntron/status/1646569047088328706" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">tweeted the number “4”</a> on Thursday afternoon, likely in response to the alleged SEC summons.&nbsp;</p> 
<p>The number has been <a href="https://twitter.com/cz_binance/status/1610018096122851328" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">introduced early in 2023 by Changpeng Zhao</a>, the CEO of Binance, as a response to negative news and a way to imply they are not correct. This is the second time Sun responded to negative news or rumors about him using the number “4”. On April 11th, an unverified, and quickly debunked rumor alleging that he has been <a href="https://tokenist.com/justin-sun-denies-rumors-of-his-arrest-in-hong-kong/" rel="dofollow" class="deco-link">arrested in Hong Kong</a>.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="the-sec-complaint-against-sun-mahone-and-soulja-boy">The SEC Complaint Against Sun, Mahone, and Soulja Boy</h3> 
<p>On March 22nd, the Securities and Exchange Commission unveiled a <a href="https://tokenist.com/sec-sues-justin-sun-cohort-of-celebrities-for-touting-crypto-securities/" rel="dofollow" class="deco-link">complaint targeting Justin Sun and eight celebrities</a> for “touting”&nbsp; Tronix (TRX) and BitTorrent (BTT)—termed “crypto asset securities” by the SEC. The lawsuit also alleged that Justin Sun engaged in severe market manipulation, primarily through “extensive wash trading”.</p> 
<p>Most of the celebrities targeted by the complaint—Lindsay Lohan, Jake Paul, Michele Mason (Kendra Lust), Miles Parks McCollum (Lil Yachty), Shaffer Smith (Ne-Yo), and Aliaune Thiam (Akon)—agreed to settle with the Commission and paid $400,000 without denying or admitting wrongdoing. Soulja Boy, and Austin Mahone—like Justin Sun—so far refused to settle with the SEC.</p> 
<p>Recent months have brought an uptick in high-profile regulatory activity targeting both major companies and notables in the industry. In February, the SEC revealed a <a href="https://tokenist.com/breaking-kraken-cracks-under-sec-pressure-agrees-to-pay-30m/" rel="dofollow" class="deco-link">$30 million settlement with Kraken</a> forcing it to terminate its staking service. In late March, both Binance and its CEO, Changpeng Zhao, <a href="https://www.cftc.gov/PressRoom/PressReleases/8680-23" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">were sued by the CFTC</a>.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><strong><em>Do you think Justin Sun will answer the SEC’s summons before the deadline expires? Let us know in the comments below.</em></strong></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/sec-gives-justin-sun-21-days-to-respond-to-market-manipulation-lawsuit/">SEC Gives Justin Sun 21 Days To Respond to Market Manipulation Lawsuit</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

SEC Gives Justin Sun 21 Days To Respond to Market Manipulation Lawsuit

Table of Contents

Tokenist

Outros artigos publicados em 13 de abr. de 2023

The trillion-dollar question: What will Bitcoin’s market cap be at $100,000 per coin?

Bitcoin blasts through $30k barrier; Experts predict what’s next for BTC

Binance Warns That Post-Shapella ETH Withdrawal Requests May Take 15 Days

MARKETS INSIGHT - VOLUMES OF CRYPTO DERIVATTIVES IN DEFI

Binance Announces Retirement of Current Deposit Addresses and Memo on Selected Networks

Ether Crosses $2,000 as Shanghai Upgrade Completed

Join our free newsletter for daily crypto updates!