The U.S. Securities and Exchange Commission announced charges against the founder of Tron, Justin Sun, and his three companies: Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc.
The SEC alleges that Justin Sun directed his employees to engage in wash trading to inflate the daily trading volume, and resulted in a grand total of 600,000 wash trades. Sun further induced investors to purchase TRX and BTT by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that the celebrities were paid for their tweets.
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