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Justin Sun’s alleged ex accuses him of market manipulation, insider trading

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Justin Sun's alleged ex accuses him of market manipulation, insider trading

A finance blogger claiming to be Justin Sun’s ex-girlfriend has made a number of accusations against the controversial Tron founder this week, including that he smuggled himself out of China illegally in the back of a truck.

Zeng Ying, who also goes by the name Ten Ten, first accused Sun of artificially raising the price of TRX before illegally dumping on retail investors. 

She alleges that Sun manipulated TRX’s market capitalisation via Binance accounts registered to his Beijing employees. The accounts allegedly bought and sold TRX in large quantities before cashing out in 2017 and 2018. 

She said, “The insider trading and predatory practices involving TRX on the Binance exchange are the source of his wealth,” and claims to have reported “substantial” evidence to the US Securities and Exchange Commission (SEC).  

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Read more: Government shutdown delays SEC v. Justin Sun case again

Sun’s public response to the allegations was short and sweet; he described her claims as “FUD.” 

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Ten Ten, however, claims that he also disseminated “a large amount of false information and malicious, defamatory content targeting me through Chinese-language KOLs with whom he has maintained long-term cooperation.”

Her latest disclosure includes accounts from an alleged former employee of Sun, who claims that in July 2018, he smuggled himself out of China in the back of a cargo truck to bypass border control restrictions

He allegedly escaped to Vietnam with a pre-purchased Costa Rican passport.

Justin Sun allegations followed by WeChat hack

After the weekend’s allegations, Ten Ten claimed today that her WeChat account was hacked. She shared screenshots of what appeared to be messages from her hacker reaching out to her friends from an account she can no longer log into. 

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She added that her friends informed her that “that within small circles, people were spreading rumors that I ‘borrowed money from him or even extorted [Sun].’”

Ten Ten claimed, “It cannot be ruled out that someone is fabricating chat records to spread rumors, nor can it be ruled out that this is a targeted account theft, possibly for the purpose of scamming people or destroying evidence.”

Indeed, one Chinese crypto account claimed that, based on the leaked messages, she had asked Sun for a $200,000 loan after being made bankrupt by the market crash.

However, Ten Ten stressed that she “would never, under any circumstances, borrow money from Sun Yuchen through any WeChat account.”

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Justin Sun allegedly didn’t fulfill a marriage promise

Ten Ten claims that she came forward with evidence of Sun’s crypto malpractice after he seemingly fell short on a promise to marry her when he announced that he was in a relationship with the skier Eileen Gu.

She said that Sun, who she once dreamed would change the world, had become “an insurmountable gate of corruption and wrongdoing.”

She added, “I hate his ruthlessness, and I regret even more that I once helped fuel his rise. I wish to confess before God and to correct the wrongs I have been part of.” 

Read more: Justin Sun directed wash trading scheme from his US apartment, SEC claims

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As news broke about the latest release of the Epstein files, Ten Ten also claimed that she has “an ‘Epstein files’ of the crypto world.”

The serious nature of her allegations also led her to announce that she is not suicidal, implying that her death should be treated as suspicious. 

Sun was sued by the SEC in 2023 over alleged market manipulation involving TRX and the token BTT. His case has, however, been paused repeatedly across 2025 and has remained in this “stayed” state as both the SEC and Sun continue to hold discussions on the case. 

Protos has reached out to Zeng Ying for comment and will update if we hear back.

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Crypto World

Foundation Shuts Down NFT Marketplace After Failed Sale

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Foundation Shuts Down NFT Marketplace After Failed Sale

Foundation, one of the better-known Ethereum-based non-fungible token (NFT) marketplaces of the 2021 boom, is shutting down after the sale that was supposed to keep it operating fell apart.

Kayvon Tehranian, Foundation’s founder and CEO, took to X on Wednesday to announce the marketplace’s closure following a failed acquisition by the digital art distribution platform Blackdove.

Although Tehranian did not directly mention Blackdove, he said the original goal of the sale was to ensure the platform would continue operating under new ownership. “That’s no longer possible,” he said, adding that Foundation is not in a position to bring the marketplace back online.

Foundation later said the site would briefly return so users could delist NFTs, in a message signed by the Blackdove team.

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Source: Foundation

The shutdown underscores the ongoing decline in NFT trading activity since the 2021 boom, as lower liquidity has left fewer independent marketplaces able to survive.

Foundation rose in the 2021 boom

Foundation was launched in early 2021, capturing a massive year for tokenized digital art, when some NFTs sold for as much as $69 million apiece.

According to Blackdove, the platform facilitated more than $230 million in primary sales for artists around the world, hosting NFT sales for artists like Jen Stark, James Jean and Reuben Wu.

Foundation also became a venue for digital art by US whistleblower Edward Snowden, whose NFT piece “Stay Free” sold for about 2,200 Ether (ETH) in 2021, worth roughly $5 million at the time.

Source: CozomoMedici

As broader NFT activity cooled after peaking in 2022, platforms like Foundation faced shrinking liquidity and fewer sustainable transaction flows. Blackdove initially announced Foundation’s acquisition in early 2025, with the platform announcing transitioning ownership a year later.

NFT market consolidation deepens

Foundation’s closure adds to a growing list of NFT platforms that have shut down or pivoted away from trading digital art recently, with the sector’s market cap falling back to pre-hype levels seen in 2021 as of February 2026.

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Mint Blockchain, an NFT-linked infrastructure network built on Ethereum, also announced Friday that it has ceased operations and instructed users to withdraw assets.

This year alone, at least two other NFT platforms announced they were winding down operations, including Gemini exchange-backed Nifty Gateway and the social NFT platform Rodeo.

Top 10 NFT marketplaces by volume. Source: DefiLlama

MakersPlace shut down amid declining NFT activity last year, while X2Y2 wound down and pivoted away from NFTs. Crypto exchange Bybit has also closed its NFT marketplace as trading volumes fell.

Related: Yuga Labs settles lawsuit against artists accused of copying its NFTs

OpenSea has remained the dominant NFT marketplace despite the broader downturn, accounting for more than 73% of all activity across the sector at publishing time, with competition from rivals such as Blur, according to DefiLlama.

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Despite the sharp decline in NFTs, some industry figures, including Animoca Brands chairman Yat Siu, predicted that the sector could recover and reach new all-time highs.

Magazine: Your guide to surviving this mini-crypto winter