A United States district court has denied Tron founder Justin Sun’s petition for a preliminary injunction against Bloomberg L.P., which sought to block the media outlet from publishing details about his cryptocurrency holdings. The legal dispute stems from a lawsuit filed by Sun alleging defamation and privacy violations, though the court found insufficient grounds to grant prior restraint against journalistic activities.
According to court documents referencing the complaint, Sun’s digital asset portfolio as of February included approximately 60 billion TRX (the native token of the Tron blockchain), 17,000 Bitcoin (BTC), 224,000 Ethereum (ETH), and 700 million USDT (Tether). These figures, representing substantial positions across multiple major cryptocurrencies, formed the basis of Bloomberg’s reporting that prompted the legal challenge.
The court’s ruling emphasized established First Amendment protections for news organizations, noting that Sun failed to demonstrate the irreparable harm necessary to justify pre-publication censorship. Legal experts observing the case suggest the decision reinforces precedent protecting financial journalism, even when covering sensitive asset information of high-profile individuals in the digital currency space.
This development occurs amid ongoing regulatory scrutiny of Sun’s business activities, including previous allegations from the U.S. Securities and Exchange Commission. The case highlights continuing tensions between cryptocurrency entrepreneurs and media organizations regarding financial transparency and reporting standards in the rapidly evolving digital asset industry.
