CandleFocus Chain plans to sue Justin Sun over market manipulation accusations
2025-01-24
Author: Content Editor
Blockchain protocol Chain is considering taking legal action against TRON founder Justin Sun after he accused the company of market manipulation. Sun claimed that Chain was using high leverage and contracts that could harm exchange users, prompting him to report their alleged illegal activities to the SEC and DOJ. However, Chain quickly responded, denying the allegations and stating that they are not engaged in any trading or market manipulation. Sun then called on the SEC and DOJ to investigate the situation, following a significant price jump in the XCN token. Chain, backed by investors including Pantera Capital and Citigroup, has raised over $40 million in funding.
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