Justin Sun Faces Market Manipulation Allegations from Alleged Ex-Girlfriend as She Offers Evidence to SEC

Justin Sun, founder of TRON, faces renewed scrutiny as a woman claiming to be his former girlfriend has publicly accused him of orchestrating large-scale market manipulation through Binance accounts according to allegations. The accuser, identified as Ten Ten (Zeng Ying), alleges that Sun used the identities and mobile phones of multiple employees to register numerous accounts for coordinated trading activity. She claims the accounts were used to artificially inflate TRX prices in late 2017 and early 2018 before large-scale sell-offs.

Ten Ten states she has evidence, including WeChat chat records and insider testimony, and is willing to cooperate with the SEC. She claims that only a small portion of the evidence has been made public. Her allegations echo previous SEC accusations against Sun for unregistered token sales and market manipulation.

The SEC previously filed a civil lawsuit against Sun and related entities in March 2023, alleging over 600,000 wash trades. This case was paused in February 2025 amid reports of Sun's financial investments in Trump family-linked crypto ventures.

Why Did This Happen?

Ten Ten's decision to come forward appears to stem from personal and moral reasons. She states she devoted her future to Sun's career but was betrayed when he later boasted about dating a high-profile athlete. She criticizes the alleged exploitation of retail investors and the use of wealth to secure political protection.

Her claims align with ongoing scrutiny of crypto executives. The broader context includes recent regulatory moves, such as India's Budget 2026, which proposed penalties for crypto reporting violations.

How Did Markets React?

TRON's TRX token traded at $0.2843 as of February 1, 2026, with a modest 0.5% decline over the past 24 hours. The allegations have not immediately triggered significant price volatility, but long-term market sentiment remains uncertain.

Neither Binance nor the SEC has commented on the new claims. Meanwhile, the broader crypto industry faces increasing regulatory scrutiny, especially in markets like India, where the government has introduced stricter reporting requirements.

What Are Analysts Watching Next?

Analysts are monitoring whether the SEC will reinvestigate Sun's activities, particularly in light of the broader political and regulatory environment. The previous case against Sun was stayed following his financial ties to the Trump family.

Ten Ten has also called on the Trump administration to distance itself from Sun, raising questions about the integrity of U.S. justice in the context of crypto enforcement.

The situation could intensify pressure for a renewed examination of TRON's early trading practices and raise broader questions about enforcement consistency and political influence in crypto regulation.

Investors are advised to remain cautious and monitor developments from U.S. and international regulators.