The U.S. Justice Department agrees to extend Justin Sun’s preparation time to defend against the SEC lawsuit

Odaily Planet Daily reported that regarding the SEC’s lawsuit against Justin Sun and his company Rainberry, the judicial department has agreed to extend Sun’s defense preparation time, and the deadline has been extended to December 8, 2023. This provides Sun’s lawyers with time to “explore the the possibility of resolving the SEC's charges against the defendants before the motion takes effect." Reports indicate that there may be two reasons for the delay. The first is that the Tron Foundation will be disbanded in April 2023 and is currently being rebuilt in Singapore. Another reason is that regarding the SEC’s lawsuit against Ripple, Justin Sun’s legal team believes that it is necessary to conduct an in-depth study of the proceedings related to the judge’s ruling. (Bitcoin.com) As previously reported by Odaily, in March this year, the SEC formally prosecuted Justin Sun, founder of Tron and member of the Huobi Global Advisory Board, accusing him of illegal sales of securities, fraud and market manipulation. It is reported that the SEC stated in a press release that it is suing Justin Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent (now known as Rainberry) for selling tronix (TRX) and BitTorrent (BTT) tokens, describing them as unregistered crypto Asset Securities, and further accused Justin Sun of fraudulently manipulating TRX’s secondary market.