Justin Sun and Rainberry delay court appearance
Justin Sun and his company Rainberry (formerly BitTorrent) have delayed an appearance they were due to make in court on September 20 to face charges of fraud and market manipulation. The judge granted the last minute delay, giving Sun an extension until December 8 to prepare for court.
However, buried within the court document was an interesting fact: on April 6, the Singaporean entity known as the TRON Foundation was dissolved. Supposedly, the TRON Foundation had transitioned to a DAO (decentralized autonomous organization) in 2021, but the Foundation continued to exist.
Compounding the confusion though is the fact that, at least according to court documents, the TRON Foundation will be reincorporated in Singapore so that it can be served by the SEC. This implies that either the dissolution of the TRON Foundation was done in error or was on purpose to avoid legal service.
Either way, it appears as though what was once hailed as a transition from a centralized entity to a decentralized organization could just be more smoke and mirrors, basic obfuscation that is now being walked back in order to cooperate with SEC demands.
Read more: Where is Justin Sun’s money?
Justin Sun and Rainberry only defendants left
The delay for Sun leaves him as the only individual left in the court case that hasn’t pled guilty or lost by default judgement, which involved singer Austin Mahone, rapper Soulja Boy, and Lindsay Lohan. Protos previously reported that Soulja Boy had lost by default judgement due to a refusal to show up to court by both him and his attorney.
In the most recent filing by Sun he suggests that the case will benefit contextually from a decision for or against Ripple in SEC v Ripple Labs, Inc.
It’s unclear how the Ripple case will help Sun in his fraud and market manipulation case.
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