A United States federal court has denied a request from Justin Sun, the creator of Tron, aiming to prevent Bloomberg from revealing details concerning his cryptocurrency assets.
The court’s decision rejects Sun’s plea for an emergency injunction that would have stopped the news organization from publishing estimated figures pertaining to his digital currency wealth.
The ruling, issued on September 22 by Judge Colm Connolly in Delaware, was in favor of Bloomberg after Sun argued that the outlet intended to disclose private financial data that had not been verified.
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The judge stated that Sun failed to demonstrate that Bloomberg had entered into any agreement to maintain the confidentiality of the information.
Back in February, Bloomberg contacted Sun’s team during their research process for the Billionaires Index, seeking additional details regarding his financial standing.
Sun then initiated a lawsuit in August, followed by a renewed effort in September to secure a court order preventing Bloomberg from publishing specifics regarding his cryptocurrency holdings.
Official court documents revealed that the assessed holdings encompassed approximately 17,000 Bitcoin
However, the judge highlighted that Sun had previously disclosed information regarding his cryptocurrency holdings, particularly Bitcoin, through his personal activity on social media platforms.
Judge Connolly indicated that Sun had not provided sufficient proof to demonstrate the likelihood of harm, which would justify the restriction of press freedom. He emphasized that Sun’s prior remarks on his Bitcoin investments offered greater detail than what Bloomberg intended to publish.
On September 17th, two members of the U.S. Congress requested information from the Securities and Exchange Commission regarding the agency’s handling of Tron’s Nasdaq listing and a legal dispute involving Sun. Discover what they inquired about by reading the complete article.