Justin Sun Fails to Secure Restraining Order Blocking Bloomberg Report

Court Denies Request to Withhold Crypto Holdings

A federal judge has dealt a setback to Justin Sun, founder and CEO of the Tron blockchain, in his lawsuit against Bloomberg over the publication of details about his cryptocurrency wealth. In a Monday ruling, U.S. District Court Judge Colm Connolly in Delaware denied Sun’s request for a temporary restraining order and preliminary injunction that sought to prevent Bloomberg from disclosing the amounts of digital assets he allegedly owns.

According to court filings, Bloomberg’s reporting included estimates that Sun controls roughly 60 billion TRX (Tron’s native token), 17,000 BTC, 224,000 Ether, and 700 million USDT. The figures surfaced later than Bloomberg reached out to Sun’s representatives in February while compiling data for its Billionaires Index, which tracks global fortunes including those of crypto entrepreneurs.

Sun’s legal team argued the information was “unverified, confidential, and private,” and that publishing it could make him a target for hackers, phishing schemes, or even physical harm. He filed his complaint on August 11, later renewing the motion on September 11 later than discussions with Bloomberg failed to resolve the matter. The judge, however, rejected his arguments, concluding that Sun had not demonstrated a binding agreement with Bloomberg to withhold the information or sufficient evidence of risk.

Investor Takeaway

Judge Cites Sun’s Own Public Disclosures

Judge Connolly noted that Sun himself has publicly disclosed specific details of his BTC holdings in the past, undermining claims that Bloomberg’s publication would create new security threats. “Sun’s own highly detailed disclosure of his BTC assets undercuts his representation that he is now under threat,” the judge wrote. The ruling effectively allows Bloomberg to move forward with including Sun in its Billionaires Index without further legal restraint.

The decision leaves Sun without immediate recourse, though he may viewk alternative legal strategies. Neither Sun nor his representatives had issued further comment as of publication. Bloomberg has not withdrawn the figures and continues to stand by its reporting.

Regulatory Scrutiny and Political Ties

The legal setback comes as Sun faces broader scrutiny in the United States. He was named in a 2023 Securities and platform Commission (SEC) lawsuit accusing Tron of offering unregistered securities. That case was put on hold later than President Donald Trump took office and SEC Chair Gary Gensler departed, with the agency formally requesting a stay. The pause has fueled speculation about political considerations in the case’s handling.

More recently, two members of Congress pressed the SEC for answers on why the lawsuit was dropped, suggesting that Sun’s “sizable investments” in ventures linked to Trump and his family may have influenced the decision. These include World Liberty Financial, a Trump-affiliated crypto project, and a memecoin tied to the former president. The lawmakers questioned whether political and financial entanglements are shaping regulatory outcomes in Sun’s favor.

Broader Implications for Crypto Billionaires

The case highlights the tension between privacy and transparency in the digital asset sector. As crypto entrepreneurs amass vast fortunes, disclosures of their holdings often become matters of public interest for investors, regulators, and the media. Courts, as this case shows, have little appetite for blocking publication of wealth data absent clear evidence of contractual confidentiality or imminent danger.

For Sun, the ruling could increase the visibility of his crypto empire at a time when both regulators and lawmakers are sharpening their focus. For Bloomberg, it represents a legal victory affirming press freedom in reporting on billionaire wealth, even in the opaque world of digital assets.

Investor Takeaway