A US judge upheld Peg’s case against Bloomberg by Tron founder and CEO Justin Sun after rejecting a temporary restraining and injunction to release information about his cryptocurrency holdings.
When filed Monday in U.S. District Court for the District of Delaware, Judge Colm Connolly was on his side with Bloomberg over “the amount of disclosed cryptocurrencies he owns.” According to the filings, the holdings included approximately 60 billion trons (TRX), 17,000 Bitcoin (BTC), 224,000 ether (ETH) and 700 million tethers (USDT).
The publication contacted the Sun team in February to gather information about the wealth of Tron Founder billionaires.
Sun alleged that Bloomberg planned to publish a “specific financial holdings” that was “unverified, confidential, private” and filed a complaint on August 11th seeking relief.
The initial complaint sought a temporary restraining order and a preliminary and permanent injunction. They also sought something that Sun owns “prohibits Bloomberg from publishing certain amounts of cryptocurrency.”
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According to Connolly, Sun could not establish that Bloomberg had promised him that he would not release the data. Additionally, he failed to show that the release of information on crypto-holding would be “an increase in targets of hacking, phishing, social engineering, inducements, or physical injury,” partly due to his own crypto-disclosure via social media.
“[…] As Bloomberg has released estimates of cryptocurrency holdings, his highly detailed disclosure of Bitcoin assets is below his statement that he is currently under threat,” Connolly added, adding:
“Sun himself revealed much more specific information about his Bitcoin Holdings than Bloomberg published.”
It was unclear whether Sun intended to pursue other legal measures.
Cointelegraph has contacted a spokesman for comment by the founder of Tron, but did not receive a response at the time of publication.
The sun is still under scrutiny from US lawmakers
The founder of Tron was named in a 2023 lawsuit against the crypto company over an allegation filed by the U.S. Securities and Exchange Commission (SEC) to provide unregistered securities. However, after US President Donald Trump took office and former SEC chairman Gary Gensler was present, the agency called for a stay in the case.
Last week, two members of Congress asked the SEC to answer questions relating to the committee that the committee lowers its lawsuit against Sun.
They suggested that Trump’s founder’s “large investments” could have influenced the decision by “substantial investments” in the crypto ventures controlled by Trump and his family, including World Liberty Financial and his Memecoin.
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