Just-In: Tron (TRX) Price Drops On Rumors Of Justin Sun’s Arrest; What’s The Truth?

What comes as a surprise to many, rumors are on the rise that Tron founder Justin Sun has been handcuffed by law enforcement officers in Hong Kong. The details shared on Twitter are vague, however, many have come forward to call it out as a deliberate attempt to FUD the crypto project. At the time of writing, the TRX token has succumbed to the ongoing rumor as its price has dropped by 1.2% immediately following the news.

Justin Sun Replies To Controversy

However, Justin Sun has finally responded to the rumor and his statement consists solely of the number “4”. This comes after the CEO of Binance, Changpeng “CZ” Zhao, said the same thing not long ago in response to reports that the CFTC had filed a lawsuit against the cryptocurrency exchange. The number 4 refers to a tweet that CZ had previously sent out with the goal of “Ignore FUD, fake news, attacks, etc.”

Moreover, Sun had been actively sharing developments from his Hong Kong tour. He had even shared a picture with his former mentor.

On March 22, 2023, The US Securities and Exchange Commission (SEC) announced charges against Sun alleging unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT). The agency also charged Sun and his companies with fraudulently manipulating the secondary market for TRX through extensive wash trading.

This is a developing story and is frequently being updated.

The post Just-In: Tron (TRX) Price Drops On Rumors Of Justin Sun’s Arrest; What’s The Truth? appeared first on CoinGape.

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Pratik Bhuyan