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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InJustin Sun, the founder of the Tron network, announced that the U.S. Securities and Exchange Commission (SEC) has officially dropped fraud and market manipulation charges against him and the BitTorrent Foundation. However, the settlement includes a $10 million fine imposed on Rainberry (formerly known as BitTorrent Inc.) to resolve the legal dispute regarding unregistered securities offerings. Following the announcement, the TRX price recorded immediate gains, notably defying the prevailing bearish trend across the broader cryptocurrency market. Sun stated that the dismissal provides "closure" to the case, allowing him to shift his focus toward fostering innovation within the United States. Analysts view this price resilience as a major bullish catalyst, as it removes a long-standing regulatory cloud that had weighed on the ecosystem. Furthermore, the Tron founder pledged to collaborate with the SEC to help establish clearer regulatory frameworks for the digital asset industry.