SEC Seeks $10 Million Settlement in Justin Sun, Tron and BitTorrent Enforcement Case

On Wednesday, the U.S. Securities and Exchange Commission moved to resolve its enforcement action involving Justin Sun, the Tron Foundation and the BitTorrent Foundation through a proposed $10 million civil penalty to be paid by Rainberry Inc. The deal, if approved by a federal judge, would dismiss all remaining claims with prejudice, ending litigation that began with a March 2023 lawsuit over TRX and BTT token sales and related promotional activity. Sun and BitTorrent publicly welcomed the resolution on social media, emphasizing closure and a renewed focus on innovation.