The Securities and Exchange American Commission, the Tron and Justin Sun Foundation filed a joint request Wednesday asking a federal judge to suspend the continuous files of the securities regulator against the cryptographic entrepreneur and his company.
The motion is similar to the requests filed in the current cases of the dry against Coinbase and Binance. In both cases, the parties said they worked towards a “potential resolution” of their cases. CEO of Coinbase, Brian Armstrong, said last week that the SEC had agreed to abandon his file for the exchange, pending the commissioner’s approval.
“In this case, the parties submit that it is in each of their interests to remain this case while they consider a potential resolution and agree that no party or non-party would be detrimental to a stay,” said the file on Wednesday. “In addition, a suspension is in the court and the interest of the public, because a resolution would retain legal resources by avoiding the need for the court to resolve the request awaiting the defendants to reject the complaint.”
The SEC continued Tron, Sun and Bittorrent in July 2023, alleging that the defendants engaged in market manipulation, fraud and issuance of unregistered titles.
Sun tried to inflate the volume of the TRX token thanks to Wash Trading, alleged the dry at the time. The regulator said that employees of the Tron Foundation had achieved more than 600,000 washing trades.
The judge of the District Court Edgardo Ramos, who oversees the case, refused the efforts of the dry to force the Tron to file an additional response in the requests prior to the trial. Tron filed a request for a request in rejection of the prosecution in court last year.
Sun is an advisor to World Liberty Financial, a company affiliated with US President Donald Trump, after buying $ 30 million from the company’s WLFI tokens. World Liberty, for his part, bought the TRX TRX token as part of his token treasure.
Read more: founder of Trump’s World Liberty Financial Credits Justin Sun for the success of Project
