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7 December 2023
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Who’s Next After Ripple? Justin Sun Denies Allegations of TRON Being Sued by US Regulators Over 2017 ICO

Justin Sun rejects allegations of receiving any notices about regulatory proceedings regarding Tron or BitTorrent in the 2017 ICO from US or Chinese authorities.

The head of the Tron Foundation, Justin Sun, has denied receiving any official notices of regulatory proceedings about the 2017 Tron ICO from American or Chinese authorities or from a regulator from any other country.

Chinese journalist Colin Wu commented that, following the legal suit initiated by the SEC against Ripple, the community has been guessing what other blockchain giant would be the next to be investigated: Tron, Binance, Tether or another one.

Will Tron follow Ripple’s example with its TRX token?

Justin Sun took to Twitter to tell the Tron community that neither the Tron Foundation, nor BitTorrent, nor any of its affiliates have been contacted by the SEC or any other U.S. or Chinese-based regulatory bodies recently regarding the 2017 Tron ICO.

No legal action has been taken against Tron or BitTorrent, Justin Sun insisted in his tweet, denying allegations that claim the opposite.


Image via Twitter

He reminded the community about the massive scale of Tron, its numerous institutional customers and more than 18 million Tron user accounts, saying that he does not see any use in these claims spread by third parties.

TRON is the busiest decentralized network in the world and is used by many institutions worldwide, with over 18 million accounts. We do not believe there is any merit to recent baseless claims that have been spread by third parties.


More crypto giants expected to fall under investigation after the Ripple case

The news of Justin Sun’s response has also been shared by the Chinese crypto journalist Colin Wu. He shared that allegations of Tron being investigated by the SEC and other regulators are related to Tron’s $70 million ICO in 2017, when the company raised funds by selling TRX to investors.

Wu also stated that rumors of Tron being investigated are in line with the crypto community’s expectations; some believe that, following the legal suit against Ripple, the SEC will try to investigate other crypto giants over their tokens. BNB, ADA and USDT are on the list of tokens that members of the community suspect may be investigated.

He also cited Justin Sun’s words that the ICO was only for Chinese investors, so U.S. regulators have nothing to sue Tron for anyway.


Image via Twitter

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