Tron DAO and Justin Sun Sue Bloomberg Over Alleged False Asset Claims

Tron DAO and Justin Sun have initiated legal action against Bloomberg, accusing the financial news organization of publishing "knowingly false" information regarding Sun’s asset holdings, particularly in the context of the Tron (TRX) blockchain. The dispute centers on Bloomberg’s Billionaires Index, which reportedly claimed that Sun personally controls 60% of TRX. Tron DAO and Sun’s representatives have strongly contested this assertion, calling it "categorically false" and unsupported by on-chain data [1].

According to a statement from Tron DAO, large token allocations held by foundations—such as the Tron DAO, Solana Foundation, or Sui Foundation—are standard industry practices for ecosystem development. These allocations are not indicative of personal ownership and do not imply that any individual controls the network [1]. The group further accused Bloomberg of violating a confidentiality agreement by publishing details of Sun’s crypto portfolio, which it described as “materially false and unverified.”

Sun’s legal team has taken issue with the publication’s editorial process, noting that internal Bloomberg staff reportedly assigned the analysis a one-star confidence rating, indicating a low level of reliability [1]. Tron DAO emphasized a lack of competence in digital asset journalism and a disregard for fact-checking, which it argues puts Sun’s safety and public image at risk. The organization is demanding that Bloomberg issue an immediate correction and retract the misleading information.

In response, Sun has filed a temporary restraining order and threatened legal action, asserting that Bloomberg knowingly published false information while violating his privacy rights [2]. His counsel has stated they are “prepared to hold Bloomberg fully accountable,” citing Forbes as a source that provides a “more accurate accounting” of billionaire asset holdings [1].

The controversy has broader implications for the crypto industry, highlighting the need for rigorous verification processes when reporting on the assets of public figures. Tron DAO has criticized the potential for misleading investors and distorting market perceptions of decentralization due to such misreporting. The legal battle may also set a precedent for how media organizations handle sensitive financial information related to blockchain projects, potentially reinforcing the importance of factual and verified reporting [2].

As the case progresses, it remains to be seen how the courts will rule and what impact this could have on the standards and practices of financial journalism in the crypto space. For now, the legal dispute continues without an immediate resolution [2].

Source:

[1] Tron DAO, Justin Sun Accuse Bloomberg of False Asset Reporting. (2025). Bitcoin.com. https://news.bitcoin.com/tron-dao-justin-sun-accuse-bloomberg-of-false-asset-reporting/

[2] Justin Sun Accuses Bloomberg of Publishing False and Private Financial Information in Its Billionaires List. (2025). Cointime. https://www.cointime.ai/flash-news/justin-sun-accuses-bloomberg-of-publishing-false-and-private-financial-information-in-its-billionaires-list-17565