Justin Sun's Crypto Holdings Disclosed by Bloomberg Amid Lawsuit Denial

A US judge denied Justin Sun's injunction, allowing Bloomberg to publish estimates of his crypto holdings: 60 billion TRX, 17,000 BTC, 224,000 ETH, and 700 million USDT. The ruling cites Sun's prior public disclosures and lack of proof of increased security risk. Sun remains under regulatory and congressional scrutiny.

A US judge has ruled against Justin Sun, denying his injunction request to prevent Bloomberg from publishing estimates of his cryptocurrency holdings. The ruling, made by Judge Colm Connolly in the US District Court for the District of Delaware, allows Bloomberg to disclose the amounts of specific cryptocurrencies Sun owns, including 60 billion Tron (TRX), 17,000 Bitcoin (BTC), 224,000 Ether (ETH), and 700 million Tether (USDT) Judge denies Justin Sun’s bid to block Bloomberg over crypto holdings^[1].

Sun had filed a lawsuit against Bloomberg in August 2023, seeking a temporary restraining order and injunction to prevent the publication of his crypto holdings. He argued that the information was unverified, confidential, and private. However, the judge denied the request, stating that Sun had not established that Bloomberg had promised to keep the information private or that its release posed a security risk Judge denies Justin Sun’s bid to block Bloomberg over crypto holdings^[1].

The judge also noted that Sun's own social media disclosures of his Bitcoin holdings contradicted his claim that the release of his crypto holdings would make him an increased target for hacking or other security threats Judge denies Justin Sun’s bid to block Bloomberg over crypto holdings^[1].

Sun's lawsuit is part of a broader legal battle with the SEC over allegations of selling unregistered securities through Tron (TRX) and BitTorrent (BTT) tokens. The SEC paused its civil case against Sun in February 2023, shortly after the inauguration of US President Donald Trump. Two influential US lawmakers have since raised questions about the SEC's decision, suggesting it may have been influenced by Sun's substantial investments in crypto ventures controlled by the Trump family, including World Liberty Financial (WLFI) Unveiling the Shocking Truth: US Lawmakers Question SEC Justin Sun Lawsuit Halt^[2].

The judge's ruling and the ongoing congressional scrutiny of the SEC's actions highlight the complex interplay between cryptocurrency regulation, political influence, and national security. As the cryptocurrency market continues to evolve, ensuring fair, transparent, and unbiased oversight remains a critical challenge for regulatory bodies.