New allegations have surfaced accusing Justin Sun of orchestrating price manipulation involving TRX, the native token of the TRON, during the project’s early development phase.
Key takeaways
A former partner alleges Justin Sun manipulated TRX prices using coordinated trading on Binance.
The accuser claims to hold evidence and says she is willing to cooperate with the SEC.
No regulator or company has confirmed the allegations, which remain unproven.
The claims were made publicly by an individual who says she was in a personal relationship with Sun at the time and had direct insight into internal operations.
Claims of Coordinated Trading on Binance
According to the statement, Sun allegedly used the identities and mobile phones of multiple employees to open numerous accounts on Binance. These accounts were purportedly operated in a coordinated manner, repeatedly buying and selling TRX to create artificial price momentum. The accuser claims this was followed by large-scale selling into retail demand, a strategy commonly associated with market manipulation.
The individual behind the allegations says she is in possession of evidence supporting her claims, including WeChat chat records and materials allegedly shared by Sun’s employees. She has stated her willingness to fully cooperate with an investigation by the U.S. Securities and Exchange Commission, and has asked U.S. judicial authorities to contact her directly.
Wider Attention After Media Amplification
The claims gained broader attention after being circulated alongside reporting from The UnPopulist, which recently highlighted other regulatory issues involving Sun. While the media coverage did not independently verify the manipulation allegations, it added visibility to the accusations at a time of heightened scrutiny of crypto market practices.
As of now, Justin Sun has not publicly addressed these specific claims, and no regulator has announced formal findings related to TRX price manipulation. Binance has also not commented on the allegation that multiple employee-linked accounts were used for coordinated trading. The accusations therefore remain unproven.
Market Integrity Concerns Resurface
The situation has reignited discussion around market integrity in the early days of major crypto tokens, when oversight was minimal and coordinated trading activity was harder to detect. Regulators have increasingly warned that wash trading, nominee accounts, and coordinated price inflation can constitute serious legal violations if substantiated.
Until authorities confirm or dismiss the claims, the allegations should be treated as unverified and viewed through the lens of ongoing regulatory processes rather than established fact.
