The U.S. Securities and Exchange Commission (SEC) will drop its lawsuit against crypto industry figure Justin Sun. The SEC sued Sun in 2023, accusing him of selling unregistered securities through companies he controlled, including Tron Foundation, BitTorrent Foundation Ltd., and Rainberry Inc., and artificially inflating Tronix trading volume by instructing employees to conduct over 600,000 wash trades between accounts under his control. Under the settlement, the SEC will drop all charges against Sun, and Rainberry has agreed to pay a $10 million civil penalty, neither admitting nor denying the allegations. The settlement is subject to judge approval. Sun posted on the X platform expressing his "great delight" at the SEC's decision to drop the case. Since Trump's return to the White House, the SEC has dropped or suspended at least a dozen cases against crypto companies, including previous lawsuits against Coinbase and Binance.