Justin Sun, founder of Tron, revealed that he controls more than 60% of all TRX tokens, Bloomberg published, which has caused the environment to a legal conflict.
The conflict broke out when Bloomberg included SUN in his multimillionaire index and published information about his assets on Monday.
In a lawsuit filed the same day before a federal court of Delaware, The businessman argues that the medium imprudent financial data recklessly “Highly confidential, sensitive and private,” warning that this exposure could cause “significant and irreparable damage, both financial and physical.”
Sun states in the complaint that a Bloomberg journalist contacted his team in February to include it in his multimillionaire index, asking him to “verify his assets to confirm his net assets”, something he accepted.
According to Sun’s demand, he was given “explicit guarantees” that his financial information, “in particular that related to his cryptocurrency holdings, would remain ‘strictly confidential'” and that Bloomberg would only use it to verify his net assets.
Cory Klippsten, CEO of Swan, said with irony that Sun, trying to look more richer, provided Bloomberg with details about his finances and He ended up revealing that almost two thirds of all tron tokens are under their control.
«He showed Bloomberg evidence that he has 60 billion TRX. Unfortunately, the total offer is 95 billion », commented Klippsten, highlighting the contradiction between SUN’s intention and the transparency that his own data made evident.
SUN representatives They hold that the profile published by Bloomberg contained inaccurate data that distorted the magnitude of their assets, and warn that the dissemination of such precise details about their cryptocurrency holdings could put him at risk already his family, exposing them to robberies, kidnappings or attacks.
For its part, Bloomberg Indian that will oppose Sun’s request for a restriction order, arguing that the information had already been published before the employer filed his demand.
With more than 300 million active accounts on the Tron platform, as detailed in the demand, SUN is positioned as a relevant figure in the ecosystem. Nevertheless, the fact that it controls almost two thirds of the tokens in circulation raises a debate on the concentration of power and the risks that this represents for decentralization.
While Bitcoin’s philosophy (BTC) cryptocurrencies is based on distributed governance, this situation allows a single actor disproportionately influenced by key decisions and market dynamics, including the price of TRX through strategic purchase or sale movements.
Besides, Tokens centralization exposes the network to additional vulnerabilities. A malicious actor with access to SUN’s position could compromise the platform, and the perception of such concentrated control can affect the confidence of investors and users, as well as attract the attention of regulators.
Despite the controversy due to the concentration of power and the risks of centralization, Tron has shown a solid development in its decentralized finance ecosystem (DEFI) for 2025. In addition, as cryptootics reported, the native token of the network, TRX, has experienced a sustained advance of 11% in the first six months of the year.
