US Judge Rules Justin Sun Cannot Block Bloomberg from Revealing $3 Billion Crypto Assets – Who’s Right Here?

US Court Blocks Justin Sun’s Attempt to Shield Crypto Holdings from Bloomberg Report

Justin Sun’s effort to prevent Bloomberg from revealing his cryptocurrency holdings has hit a legal wall, with a US federal judge rejecting his request for an injunction.

Source: Court Listener

The Tron founder sought to stop the publication of details about his digital assets, valued at over $3 billion, citing confidentiality and security concerns.

Judge Finds No Evidence of Confidentiality Promise

In a ruling filed on 22 September in the U.S. District Court for the District of Delaware, Judge Colm Connolly dismissed Sun’s motion for a temporary restraining order.

Sun claimed that Bloomberg reporter Muyao Shen had promised to keep his crypto holdings confidential for the Billionaires Index.

Judge Connolly noted, however, that Sun “must demonstrate by clear and convincing evidence” that such an agreement existed.

Bloomberg team members Dylan Sloan and Tom Maloney also denied any promise of confidentiality.

Source: Court Listener

Court filings detailed Sun’s extensive holdings, including 60 billion Tron (TRX), 17,000 Bitcoin (BTC), 224,000 Ether (ETH), and 700 million Tether (USDT).

The judge pointed out that Bloomberg’s report disclosed information “arguably less specific than what other entities and Sun himself have made public,” weakening Sun’s argument that the publication posed a real threat.

Security Risk Claims Rejected by Court

Sun argued that publishing the amounts of his holdings could make him a target for hacking, phishing, kidnapping, or other threats.

Judge Connolly rejected this, noting that Sun had already shared detailed information about his Bitcoin holdings publicly, reducing the credibility of his security concerns.

Bloomberg’s Report Relies on Publicly Available Data

The court examined chat screenshots from the interview process and found no evidence of a confidentiality promise.

Connolly concluded that Bloomberg’s disclosure was neither offensive nor intrusive to a reasonable person, reinforcing the media outlet’s right to report.

Sun’s renewed motion, filed on 11 September demanding the removal of specific crypto asset amounts from Bloomberg’s publication, was thus denied.

Justin Sun’s Crypto Ventures Under Increasing Scrutiny

This ruling adds pressure on Sun, who is also involved in ongoing litigation with the US Securities and Exchange Commission (SEC).

The 2023 SEC lawsuit alleges that Sun’s Tron company offered unregistered securities.

The case has seen delays following the change in SEC leadership and the inauguration of President Donald Trump.

Sun’s investments in Trump-related ventures, including World Liberty Financial, have drawn additional attention.

Recently, Sun’s WLFI wallet was blacklisted after 540 million WLFI tokens were frozen, blocking transfers following activity from a Sun-linked address.

Sun publicly urged the project team to “respect investor rights” and unfreeze the tokens.

His involvement with Trump-branded memecoins also continues, with reports that he holds the largest stake and received a Golden Tourbillon watch for his holdings.

Can Sun Maintain Privacy While Facing Legal and Market Pressure?

From Coinlive’s perspective, Sun’s case highlights the difficulty of shielding financial information in a high-profile crypto environment.

Public disclosures, court scrutiny, and media coverage create a complex landscape where privacy is nearly impossible to maintain.

The ongoing attention on his holdings and business dealings raises questions about whether Sun can navigate US regulatory pressures while sustaining investor confidence.

The broader challenge for projects like Tron lies in balancing transparency, compliance, and market influence under intense global scrutiny.