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According to the official website of the U.S. Securities and Exchange Commission, the SEC has filed a lawsuit in the U.S. District Court for the Southern District of New York, accusing it of illegal sales of securities, fraud and market manipulation, and charging separate violations against its celebrity supporters of crypto assets. It is alleged that Justin Sun attempted to artificially increase TRX trading volume through a virtual trading (wash sale) scheme, allowing employees to conduct more than 600,000 TRX virtual transactions between two crypto asset trading platform accounts controlled by him. All assets used in illegal transactions (TRX) were provided by Justin Sun himself. The SEC’s statement also noted that Justin Sun allegedly orchestrated a celebrity promotion to induce investors to buy TRX and BTT tokens and concealed the fact that the celebrities were compensated for their tweets. These celebrities include eight people including American actresses Lindsay Lohan and Michelle Mason. The U.S. Securities and Exchange Commission stated that six of them reached a settlement with the SEC and agreed to pay a total of US$400,000 in liquidated damages, interest and penalties. They neither admitted nor denied the SEC’s findings. Separately, Gurbir S. Grewal, director of the SEC’s Division of Enforcement, said, “As alleged, Justin Sun and others used an age-old tactic to first issue securities without complying with registration terms and letter approval requirements, and then manipulate the markets for these securities to mislead and harm investors. ” In response to the SEC's prosecution, Justin Sun posted three updates on Twitter on the morning of the 23rd, seemingly responding to the matter. Justin Sun said: “The SEC’s civil prosecution earlier today is just the latest example of its actions against high-profile players in the blockchain and crypto space. We believe the prosecution lacks evidence and will continue to build the most decentralized financial system. ” Justin Sun also said: “We are eager to work with governments and regulators around the world who are committed to establishing transparent guidelines to regulate and work with the cryptocurrency industry, because it has an important role to play. ”“For example, recently, Dominica adopted TRX and BTT as legal tender. ” 1. Sun was indicted by the United States and is selling Huobei: Early yesterday morning, the U.S. Securities and Exchange Commission announced an immediate indictment against Justin Sun and three associated companies, accusing Justin Sun of leading eight other celebrities to provide and sell crypto asset securities TRX and BTT without registration. Sun Gee is so awesome that he stole the headlines from the Federal Reserve! The SEC also accused Justin Sun and his company of fraudulently manipulating the secondary market of TRX through extensive wash trading, leading others to illegally sell TRX and BTT, and paying celebrities to sell TRX and BTT. In addition, the Commission also accused Justin Sun of orchestrating a scheme to artificially inflate TRX trading volume in the secondary market, violating the anti-fraud and market manipulation provisions of the federal securities laws. I estimate that Sun Yuchen will not be able to escape this time without a big bloodshed! It is rumored that Justin Sun's status as Grenada's WTO ambassador has been revoked. Losing this "yellow mantle" means that Justin Sun is now an ordinary citizen and no longer has diplomatic immunity and WTO status. In addition, in the past two days, it has also been reported that Sun Yuchen is looking for buyers everywhere, and the sale is inevitable! 2. Lezhong Mall: This project is most likely opened by a few group managers. In the early stage, the price was deliberately raised to attract people to buy fuel. After buying the fuel, the coins will not be credited. There is a problem with the APP in the past two days. According to the routine, it may be gone forever on the grounds of updating the APP in a few days. 3. Boiling: An airdrop I saw recently is based on the Binance Smart Chain. This type of airdrop is basically to attract people to subscribe. For airdrops, remember to claim it, but don’t subscribe, and don’t authorize your wallet. 4. Avive World: The computing power mode that was released before is, to put it simply, the gameplay of mining. This type of project has a low probability of realization, but other projects are okay. Most of them are lonely in the end, but having said that, it is fine as long as they are not counterattacked. 5. Time and Space Station: The trading center was also launched yesterday, but it is said that it is not perfect yet. You need to buy a blind box at 9.9 to be able to realize it. For this kind of project, you must remember to buy the blind box when it can be sold. Don’t buy indiscriminately to prevent being cheated. 6. Red ant tourism: Recently, some people have begun to collect it, and the price is around 4. It is not good for general projects to have this situation. Those who have played it can cash in a little first, and see what happens later. Justin Sun offers $1.5 billion to acquire Credit Suisse, saying he will transform Credit Suisse into a cryptocurrency-friendly financial institutionIn the early morning of March 20, Justin Sun stated on certified social media: “UBS’s acquisition offer for Credit Suisse is not good enough. I'm willing to offer $1.5 billion of my own money to acquire Credit Suisse and integrate it into the Web 3.0 world. Switzerland has always been one of the most crypto-friendly countries in the world. ” He added: “My vision for the future of finance includes embracing the potential of blockchain technology and cryptocurrencies. By acquiring Credit Suisse and transforming it into a cryptocurrency-friendly financial institution, we can create a new standard for financial innovation that benefits everyone. ”Credit Suisse was founded in 1856 and has a history of more than 160 years. However, in recent years, Credit Suisse has been exposed to many scandals, with frequent changes in bank management personnel, and it has also paid high fines to regulatory authorities in many countries for issues such as tax fraud and money laundering. On March 19, the Swiss financial regulatory authorities were pushing UBS Group to fully or partially acquire Credit Suisse. UBS proposed to acquire Credit Suisse at a price of up to US$1 billion. Credit Suisse later rejected the proposal, believing that the price was too low and might harm shareholders and employees holding deferred shares. The latest news is that if UBS's acquisition of Credit Suisse fails, Switzerland will consider nationalizing all or part of Credit Suisse. —END— Statement This official account is reprinted on the Internet. The copyright belongs to the original author. This account is intended to promote the basic knowledge of blockchain and does not constitute any investment advice. |
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