SEC, Justin Sun, Tron jointly apply to suspend fraud case or reach settlement

According to CoinDesk, the US Securities and Exchange Commission (SEC), Tron Foundation, and Justin Sun have filed a joint motion in federal court to suspend the SEC's fraud lawsuit against Sun and Tron to consider "potential solutions". This motion is similar to the SEC's application in the Coinbase and Binance cases, indicating that the two parties may reach a settlement. The SEC previously sued Tron, Sun, and BitTorrent in 2023, accusing them of market manipulation, fraud, and issuing unregistered securities, alleging that Tron employees conducted over 600000 "clean trades" to boost TRX trading volume. The case is being heard by Judge Edgardo Ramos. Tron had previously applied to dismiss the lawsuit, and the SEC's request for additional litigation has been dismissed. Sun currently serves as an advisor to World Liberty Financial, which is affiliated with former US President Trump and has purchased Tron's TRX as its token reserve.