Tron Network’s native token TRX fell roughly 13% following the news that the SEC had charged Justin Sun with selling unregistered securities and market manipulation. Other Sun-related tokens also fell. reporting
With a total supply of 91.15 billion, Tron’s market capitalization currently stands at $5.47 billion, and in the past 24 hours, trading volume for TRX sits at roughly $421 million as of presstime.
The SEC is charging the Tron network founder with the offer and sale of unregistered crypto asset securities, as well as fraudulently manipulating TRX’s secondary market through extensive wash trading. Other Sun-related assets also took a dive as both Sun Token and JUST slid more than 8% after the announcement. Huobi , the token of the crypto exchange that Sun leads, fell 10%.
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