![]() Update, March 23, 2023: This article has been updated with a comment from Justin Sun. In 2021, he resigned as CEO of the TRON Foundation to become Grenada’s representative to the World Trade Organization. Offers and Sales of BTT in the BitTorrent Discord Giveaway 117. ![]() persons from receiving BTT in this offering. None of the Sun Defendants took any steps to exclude U.S. He used the money from the ICO to buy BitTorrent, the peer-to-peer file sharing system, for $140 million, according to The Verge, and expanded his crypto empire through an acquisition of the crypto firm Poloniex. to do so, increasing the apparent number of active BitTorrent users and BTT wallet holders. He quickly raised $70 million-just days after the Chinese government had banned initial coin offerings.Ī Chinese national, Sun fled from Beijing to Seoul, as TRX continued to rise in value. Other targets of the SEC include the cryptocurrency exchange Kraken as well as crypto firms Gemini and Genesis.Ī protege of Jack Ma, best known as the cofounder of Chinese tech giant Alibaba, Sun splashed into the world of crypto during the ICO craze of 2017, when he and TRON released TRX. District Court for the Southern District of New York, continue Gensler’s months-long crackdown of crypto companies and personalities since the fall of FTX in November. ![]() In 2018, the Tron Foundation, the entity behind the Tron (TRX) blockchain, acquired BitTorrent, integrated the protocol into its blockchain, and introduced the BTT cryptocurrency to monetize popular BitTorrent services.
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