A woman claiming to be Justin Sun’s ex-girlfriend alleged on Sunday that the cryptocurrency billionaire manipulated the market to pump the price of his Tron (CRYPTO: TRX) token.
Serious Allegations Against Tron Founder
Zeng Ying, describing herself as a finance blogger and a “Crypto OG,” said she was in a relationship with Sun back in the early days of Tron, the Layer-1 blockchain he founded in July 2017.
Zeng said Sun used the identities and mobile phones of multiple employees in Beijing to operate several accounts on the Binance (CRYPTO: BNB) exchange. Through this, he conducted “coordinated buying and selling” on the exchange to artificially inflate TRX’s price, she added.
“I am willing to fully cooperate with an SEC investigation and to submit all relevant WeChat chat records, as well as evidence provided to me by his employees, proving his market manipulation activities,” Zeng stated.
I was Justin's girlfriend during the early stages of his entrepreneurship with TRX. I am in possession of evidence showing that he used the identities and mobile phones of multiple employees to register numerous Binance accounts, through which he conducted coordinated buying and… https://t.co/aQi0PWvk6L
Zeng said that she has a “substantial amount of evidence,” and whatever she has disclosed thus far is just the tip of the iceberg.
“The insider trading and predatory practices involving TRX on the Binance exchange are the source of his wealth,” she added.
I am not making empty accusations. I have a substantial amount of evidence, and what has been disclosed so far is only a very small portion of it.
Justin Sun used the identities of multiple employees based in Beijing to operate accounts on the Binance exchange, through which he… https://t.co/cq5fEzb9H9
The revelation shocked many, with some demanding answers from Sun while others wondered why Zeng had remained silent for eight years.
The account, based in Japan, was created in November 2015 and earned verification last September. Interestingly, despite highlighting achievements such as Forbes 30 Under 30 2019 and TEDx talks, the bio includes no supporting links.
Sun didn’t immediately return Benzinga’s request for comment on the allegations.
A Controversial Figure
Sun, with an estimated net worth of $8.5 billion, has been no stranger to cryptocurrency.
Notably, Sun is a leading investor and advisor at World Liberty Financial, the decentralized finance platform backed by the Trump family. The Chinese-born entrepreneur was also among the high-profile guests at the gala dinner hosted by Trump for holders of his Official Trump (CRYPTO: TRUMP) memecoin.
Price Action: At the time of writing, TRX was exchanging hands at $0.2819, down 1.29% in the last 24 hours, according to data from Benzinga Pro. The coin is up 16.41% over the last year.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: Alexandru Nika on Shutterstock.com
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