TRON Price Rises as SEC Drops Lawsuit Against Founder Justin Sun

The price of TRON has seen a significant increase following the announcement that the US Securities and Exchange Commission (SEC) will be dismissing its lawsuit against Justin Sun, the founder of Tron.

According to reports, Rainberry, a company associated with Sun, will pay $10 million in civil penalties as part of the settlement. This comes after a series of cases related to digital assets initiated by President Biden were brought forward.

The development has caused a bump in the price of TRON, which moved from the red zone to increase in value to $0.2858, despite the overall decline in the cryptocurrency market.