Annuncio pubblicitario
Italia markets open in 4 hours 35 minutes
  • Dow Jones

    38.852,86
    -216,74 (-0,55%)
     
  • Nasdaq

    17.019,88
    +99,08 (+0,59%)
     
  • Nikkei 225

    38.730,09
    -125,28 (-0,32%)
     
  • EUR/USD

    1,0853
    -0,0008 (-0,08%)
     
  • Bitcoin EUR

    63.189,88
    -209,51 (-0,33%)
     
  • CMC Crypto 200

    1.445,50
    -50,96 (-3,41%)
     
  • HANG SENG

    18.588,60
    -232,56 (-1,24%)
     
  • S&P 500

    5.306,04
    +1,32 (+0,02%)
     

Tron Network’s TRX Drops 13% Following SEC Charges Against Justin Sun

Join the most important conversation in crypto and web3! Secure your seat today

The Tron network’s native TRX token dropped 13%, per CoinDesk data, from 6.7 cents to 5.8 cents after the Securities and Exchange Commission (SEC) announced charges against Justin Sun and three of his companies including Tron Foundation and BitTorrent.

TRX dropped roughly 13% after SEC charged Justin Sun. (Highcharts.com and CoinDesk)
TRX dropped roughly 13% after SEC charged Justin Sun. (Highcharts.com and CoinDesk)

With a total supply of 91.15 billion, Tron’s market capitalization currently stands at $5.47 billion. In the past 24 hours, trading volume for TRX sits at roughly $421 million, as of press time.

The SEC is charging the Tron network founder with the offering and sale of unregistered crypto asset securities, as well as fraudulently manipulating TRX’s secondary market through extensive wash trading.

ANNUNCIO PUBBLICITARIO

Other Sun-related assets also took a dive. Sun token (SUN) and just (JST) slid more than 8% after the announcement. Huobi (HT), the token of the crypto exchange that Sun leads, fell 10%.

Read more: Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation Charges