SEC ends case against Justin Sun with $10M settlement

The Securities and Exchange Commission has ended its long-running fraud and securities violation lawsuit against Justin Sun in a $10 million settlement.

The US Securities and Exchange Commission has ended its lawsuit against crypto entrepreneur Justin Sun with a $10 million settlement, ending a two-year legal battle over alleged fraud and securities laws violations.

The SEC said in a letter to a Manhattan federal court on Thursday that Rainberry, one of Sun’s companies, would pay a $10 million fine, and claims against Sun and his companies, the Tron Foundation and BitTorrent Foundation would be dropped.

Related: Rep Waters demands SEC oversight hearing about its approach to crypto

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