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Justin Sun Sues Bloomberg for Publishing Allegedly False Information about His Cryptocurrency Holdings
In a shocking move, Justin Sun, the founder of Tron blockchain, has taken legal action against Bloomberg by filing a lawsuit in a Delaware federal court. The dispute stems from the financial news outlet’s recent Billionaires Index report, which Sun claims includes false and confidential information about his cryptocurrency holdings.
According to the complaint filed on Monday evening, Bloomberg released an article stating that most of Sun’s net worth comes from cryptocurrency, specifically TRX, the native token of Tron blockchain. The publication also revealed that his TRX holdings exceed those in Bitcoin, with a confidence rating of one star out of five.
Sun’s legal team argues that the data presented is inaccurate and violates confidentiality agreements. They claim that Bloomberg gave “explicit assurances” that any financial information requested would remain private and only be used for verification purposes. The founder of Tron blockchain claims he reviewed other Billionaires Index profiles that list cryptocurrency as a lump sum value, which led him to believe Bloomberg prepared to publish specific financial details about his assets alongside misstatements.
Sun’s lawsuit also alleges that Bloomberg planned to use the false information in an unrelated article and failed to comply with the agreed-upon confidentiality terms. He sent a cease-and-desist letter on August 2, demanding the publication halt its plans, but Bloomberg confirmed it would still release the report.
The dispute is now before the United States District Court for the District of Delaware. Bloomberg has pushed back against Sun’s request for a temporary restraining order, stating that it will oppose the motion and arguing that blocking the report would infringe upon its First Amendment rights regarding freedom of speech.
Bloomberg has not commented publicly on the matter.
Source: coinchapter.com
