Court Grants Extension For Justin Sun To Prepare Evidence To Prove SEC’s Allegations Wrong
Popular crypto entrepreneur Justin Sun secured an easy extension of the defense time so that his lawyers can collect more information to dismiss the SEC’s allegations.
Justin Sun is the founder of several crypto coins and crypto platforms e.g. TRX, BTT, SUN, Win, JST, JustSwap exchange, and Sunswap exchange. He is also behind the Poloniex crypto exchange, & Huobi Global exchange. In March of this year, the United States and Securities Exchange Commission (SEC) charged Justin Sun & his companies Tronix and BitTorrent over providing unregistered securities offerings in the US.
At the time, the SEC body also dragged nearly 8 other celebrities, who were in connection with Justin over promoting unregistered crypto asset securities.
On 24 Sep 2023, a Bitcoin.com report confirmed that the court granted defense extension time for this crypto entrepreneur so that his representative lawyers could collect some more evidence & facts to prove SEC’s allegations wrong.
The extended time for Justin is now 8 Dec 2023 and after that court proceedings will take place to reach the resolution.
In a couple of years, many people accused Justin Sun of manipulating the trade price of TRX coin and also using his money power to get regulatory approval for the crypto project launch unethically.
It is worth it to note that Justin left his crypto-related works & stepped down from the Tron (TRX) crypto project in late 2021 to become a diplomat for Grenada but still, he has been continuously engaged in the crypto sector with his high amount crypto-related activities.
At the time he said that he would support & promote the TRX coin but he crossed his boundary & continuously incra personal & profes financial activities at a big level.
This year he also said that he will collect funds from trading meme coins & new crypto assets & further donate the funds to the organizations who need funds to help needy people.