Jake Paul, Akon, Lindsay Lohan, Ne-Yo, charged in crypto scam

March 23, 2023

Share via:

The US Securities and Exchange Commission has charged Justin Sun and three of his companies, Tron Foundation Limited, BitTorrent Foundation Limited, and Rainberry Inc., with making unregistered offers and sales of crypto asset securities.

Tronix (TRX) and BitTorrent are two examples (BTT). Sun and his companies were also charged with “fraudulently manipulating the secondary market for TRX through extensive wash trading, which involves the simultaneous or near-simultaneous purchase and sale of a security to make it appear actively traded without an actual change in beneficial ownership, and orchestrating a scheme to pay celebrities to tout TRX and BTT without disclosing their compensation,” according to a statement released by the US Securities and Exchange Commission.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

OpenAI fixed a “significant issue” that was exposing user chat titles to the public

Next News

Ex-Flipkart exec’s Flash app aspires to be your e-commerce inbox

Editorial Team

StartupNews.fyi is a leading global startup and technology media platform known for its end-to-end coverage of the startup ecosystem across India and key international markets. Launched with the vision of becoming a single gateway for founders, investors, and ecosystem enablers, StartupNews.fyi has grown steadily over the years by publishing tens of thousands of verified news stories, insights, and ecosystem updates, reaching millions of startup enthusiasts every month through its digital platforms and communities.