Business
U.S. Drops Fraud Complaint Against Billionaire Crypto Investor
The Securities and Exchange Commission on Thursday moved to dismiss a civil fraud lawsuit it had filed against crypto billionaire Justin Sun, who became a major investor in President Trump’s cryptocurrency projects as he pursued leniency from U.S. law enforcers. A company previously affiliated with Sun agreed, without admitting or denying wrongdoing, to pay a $10 million fine to resolve the SEC’s allegations that its employees manipulated the market for a crypto asset known as TRX. The settlement requires court approval.