TRON founder Justin Sun has launched a high-stakes legal fight against Bloomberg, accusing the financial media giant of breaking a confidentiality agreement regarding his cryptocurrency holdings.
The dispute began after Bloomberg sought to include Justin Sun in its Bloomberg Billionaires Index, a ranking of the world’s wealthiest individuals. Sun claims Bloomberg repeatedly assured him, both verbally and in writing, that details of his crypto portfolio would remain strictly confidential and would only be used to verify his net worth.
According to Justin Sun, Bloomberg also promised to delete the information after verification. He insists that this was the key reason he agreed to participate in their evaluation.
However, things escalated when Justin Sun received a draft profile in late July. The document not only included what he calls “numerous inaccuracies” but also contained a detailed breakdown of his assets by coin, information he never consented to make public.
Bloomberg’s Alleged Disclosures
The draft reportedly claimed Justin Sun controls 60 billion TRX, which is roughly 63% of TRON’s total supply, a far larger estimate than most public assumptions. It also listed his holdings as 17,000 BTC, 224,000 ETH, and 700,000 USDT.
Crypto researcher Molly White speculated that Justin Sun’s anger may stem from the revelation of his TRX dominance. “It’s always been known he owns a lot, but estimates I’ve seen are lower than that,” she said.
Justin Sun argues that no other billionaire profiles in Bloomberg’s index have such a granular breakdown unless those figures were already publicly disclosed through official filings or voluntary announcements. He claims this treatment is both unprecedented and unjustified.
Security Risks in the Crypto World
Sun’s legal complaint emphasises that revealing this level of detail about his holdings could put him and his family in serious danger. He warns that such disclosures could invite hacking, theft, extortion, and even physical harm.
These fears are not unfounded. The cryptocurrency world has seen a sharp rise in targeted crimes. Recent examples include:
- A plot to kidnap a family and amputate fingers over a $3 million crypto debt.
- The abduction of a Ledger wallet user in France – the tenth such incident in the country this year.
- Coinbase CEO Brian Armstrong calling a bomb squad to his home after receiving a suspicious package.
For Sun, these risks are a powerful reason to keep his exact holdings private.
From Cease-and-Desist to Courtroom Clash
On 2 August, Sun’s lawyers sent Bloomberg a cease-and-desist letter demanding that the publication limit its reporting to his net worth and broad asset categories, without revealing exact numbers.
Bloomberg reportedly refused, saying they planned to move forward with the detailed report. Their newsroom counsel also noted that the article had already been published online, making Sun’s request for a temporary restraining order “moot.”
Sun is now seeking a temporary restraining order (TRO), as well as preliminary and permanent injunctions to block the release of certain cryptocurrency figures. He is also asking for Bloomberg to cover his legal expenses.
What’s at Stake for the Crypto Industry
The case has sparked intense speculation within the crypto community. Some believe Sun’s secrecy could be linked to:
- Regulatory concerns – given how concentrated his TRX holdings are.
- Tax implications – depending on where and how his assets are held.
- Political or sensitive transactions – which might become public if his wallets are scrutinised.
If Sun wins, it could set a precedent allowing wealthy crypto holders to restrict the media from publishing detailed breakdowns of their assets. If Bloomberg prevails, it could strengthen the press’s ability to dig into and publish information on blockchain’s billionaires, even if it goes beyond traditional financial reporting.
For now, the legal battle is ongoing. Bloomberg maintains it acted within its rights and is ready to fight the claims in court. The outcome could have lasting effects on both crypto privacy and journalistic freedom.
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