Justin Sun, founding father of the Tron blockchain, has sued Bloomberg and sought a brief restraining order, alleging it printed false and personal monetary info in its billionaires checklist.
Sun’s representatives stated on Tuesday in a weblog put up by Tron that his profile on the Bloomberg Billionaires Index launched on Monday had “printed inaccurate information that dramatically and dangerously misrepresents Mr. Sun’s belongings.”
Sun sued Bloomberg in a Delaware federal court docket on Monday, asking a decide to cease it from publishing the data, claiming the motion was to forestall the outlet from “recklessly and improperly disclosing his extremely confidential, delicate, non-public, and proprietary monetary info.”
Lawyers for Bloomberg stated in a letter to the court docket on Tuesday that the corporate will oppose Sun’s utility for a restraining order and asserted “your entire foundation” of the appliance was moot because the outlet had printed the data earlier than the appliance was filed.
Bloomberg declined to remark. A lawyer for Sun was requested for remark.
Bloomberg stated info can be confidential, Sun claims
In his criticism, Sun claimed a Bloomberg journalist approached his group in February to incorporate Sun within the Bloomberg Billionaires Index, for which it might must “confirm his belongings to substantiate his web value.”
Sun agreed and was given “express assurances” that his monetary info, “notably associated to his cryptocurrency holdings, can be held ‘strictly confidential’” and Bloomberg would solely use it to confirm his web value, in keeping with the submitting.
Sun stated he reviewed profiles on the Index that included crypto holdings, which “report solely a lump sum worth,” however claimed Bloomberg deliberate to publish “particular monetary holdings — in granular element — alongside misstatements” about his holdings.
The criticism claimed the outlet additionally deliberate to make use of the data for an “unrelated Bloomberg article.”
Sun claimed to have despatched Bloomberg a stop and desist letter on Aug. 2, aiming to cease the publication of his holdings, however stated the outlet confirmed it might nonetheless be publishing the article.
In the weblog put up on Tuesday, Sun stated the report attributes crypto holdings to him that “he has by no means owned, managed or had any helpful curiosity in, and fails to report cryptocurrency holdings he does personal.”
He claimed in his criticism that the publication of his holdings “would trigger vital hurt” and topic him to a “vital threat of theft, hacking, kidnapping, and bodily hurt to him and his household.”
Bloomberg pushes again on restraining order
Lawyers for Bloomberg argued of their letter that Sun’s submitting for a brief restraining order couldn’t stand, because the outlet had already printed the data at concern.
Bloomberg stated Sun filed for the order to cease the article simply after 7 pm Eastern US time on Monday, however the outlet had printed the article virtually two hours earlier.
Bloomberg stated it might oppose the appliance and deliberate to argue that it might infringe on its First Amendment rights, governing press and speech freedom, which might “gravely disserve the general public curiosity.”
It additionally deliberate to argue that Sun can’t present the article invaded his privateness, brought on irreparable hurt, or that Bloomberg breached a promise to him.
Sun’s TRX holdings eclipse BTC holdings, Bloomberg stories
Bloomberg up to date its profile on Sun in its Billionaires Index on Monday, reporting he owns a big swathe of Tron (TRX), the native token of the blockchain he based, and attributed the determine to “an evaluation of monetary info supplied by representatives of Sun in February 2025.”
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Bloomberg’s report added, citing the evaluation of his monetary info, {that a} majority of Sun’s web value got here from crypto holdings.
Still, the outlet gave its confidence in its evaluation one star out of 5, which Sun argued in Tron’s weblog put up confirmed “the weak point of their reporting.”
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