A group of American lawmakers has reached out to the U.S. Securities and Exchange Commission (SEC) requesting clarification regarding the potential connections between TRON founder Justin Sun, U.S. President Donald Trump, and the subsequent risks to the financial market.
This is reported by Finway
Allegations Against Justin Sun and Investments in Trump-Related Projects
An official letter was sent to SEC Chairman Paul Atkins and the Acting Director of the Division of Corporation Finance on September 17, 2025. It was signed by Congressman Sean Casten and Senator Jeffrey Merkley. The document contains numerous questions regarding Justin Sun’s activities, who, according to the lawmakers, has been under investigation by the U.S. Department of Justice since 2021. In 2023, the SEC filed a lawsuit against him for fraud involving the TRX coin, and FinCEN reported the use of the TRON network by criminal groups. Due to these allegations, Sun is reportedly avoiding trips to the U.S., fearing arrest, as noted in the letter.
Lawmakers assert that following Donald Trump’s victory in the 2024 presidential election, Justin Sun became a major investor in the DeFi project World Liberty Financial (WLFI), which has ties to the president’s family. According to their data, Sun invested at least $75 million in this project, which brought Trump approximately $400 million in profit. Additionally, Sun supported the meme coin TRUMP.
“The letter states that after these investments, the SEC, now under the new administration, dropped the lawsuit against Sun. Lawmakers see this as a potential conflict of interest.”
Possible Market Manipulations and Demands on the SEC
Since September 2025, the WLFI token has appeared on leading exchanges, including Coinbase and Kraken. This has allowed the Trump family to increase their wealth by an additional $5 billion, the document states. Congress members warn that Sun, as a key investor, may influence the price fluctuations of WLFI, creating additional risks for retail investors.
In conclusion, lawmakers have formulated a series of questions for the SEC, expecting responses by October 2, 2025. Among them:
- Were there any contacts between SEC representatives, the White House, or members of the Trump family regarding Sun’s case?
- Was there direct communication with Sun prior to the withdrawal of the lawsuit?
- How many complaints have been received regarding Sun’s activities, and how were they handled?
- Is the SEC considering banning TRON in the U.S.?
- Other questions regarding transparency and investor protection.
It was previously reported that the World Liberty Financial platform blacklisted Justin Sun’s Ethereum address after an alleged transfer of WLFI tokens worth $9 million.