The US Securities and Exchange Commission charged Justin Sun and several celebrities with alleged wash trading and illegal touting of tronix and BitTorrent tokens, which it describes as unregistered securities.
Sun is alleged to have directed employees to "engage in more than 600,000 wash trades of TRX between two crypto asset trading platform accounts he controlled."
TRON is down 13.5% on the news
The celebrities sued for promoting TRON without disclosing they were being paid are:
• Lindsay Lohan
• Jake Paul
• DeAndre Cortez Way (Soulja Boy)
• Austin Mahone
• Michele Mason (Kendra Lust)
• Miles Parks McCollum (Lil Yachty)
• Shaffer Smith (Ne-Yo)
• Aliaune Thiam (Akon)
Here's the release.
