U.S. Court Orders $10 Million Penalty Payment in Justin Sun Case

A U.S. federal court has issued a final judgment in a high-profile case involving cryptocurrency entrepreneur Justin Sun and his companies.

The court ordered Rainberry to pay a $10 million penalty within 30 days, as part of the ruling in a legal case filed by the Securities and Exchange Commission (SEC).

The SEC's lawsuit alleged that Justin Sun and three related entities, Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc., had engaged in practices that could mislead investors or create a false appearance of trading activity.

As part of the settlement, Rainberry has been permanently barred from engaging in such practices, and the company must not violate any other U.S. securities laws in the future.