TRON Founder Justin Sun Wins Character Assassination Case Against Chongqing Business Media Group

The People's Court of China has passed a ruling in favor of Justice Sun, the founder of TRON DAO, in a case filed against the Media for character assassination.

A court in China has ruled in favor of TRON DAO founder Justin Sun in a case against a media company over character assassination. The Media has apologized in writing to Sun and deleted all malicious content.

In the letter of apology, the Media has acknowledged writing unsubstantiated derogatory remarks. Sun had filed the case on March 11, 2022, over the matter.

After several rounds of in-depth study and a lengthy trial procedure, the Chongqing Yubei District Court found the Media guilty without giving another date. The court noted that all allegations made by the media house, including insider trading and money laundering, were entirely false and without supporting evidence. The judge ordered that the Media release an apology in the public domain through a national newspaper.

Sun thanked the court for clearing his name from the allegations.

The court’s ruling is a strong message to several media houses to avoid publishing unsubstantiated information, especially when the character of an individual or company is forcibly brought under the public lens in a derogatory fashion. It can create immense harm.

The verdict’s impact is visible on TRON DAO’s native token. It is up by 0.75% in the last 24 hours and is listed at $0.1233 at the press time. The value further reflects a rise of 5.92% and 9.97% in the last 7 days and 30 days, applicable in the same order. There is a notable uptick in 24-hour trading volume. The figure in the above column has increased by 31.52%.

Near-term predictions are bearish. TRON could dip to $0.10249 in the next 5 days and $0.119085 in the next 30 days. The monthly fall will take the value down by 3.04% from its current standing. However, it is too early to negate the possibility of upswings in the future. Justin’s name has been cleared by the court. It means that there is no dark stain on TRON DAO’s reputation in terms of money laundering or insider trading.

TRON’s movements on the price charts have a 2.19% volatility rate. Prevailing sentiments are bullish, with the 14-day RSI hovering around 57.14.

TRON has also surpassed SHIB in market cap. TRON’s value is over $10 billion, while SHIB is slightly below that mark. TRON has climbed to the 11th spot, and Shiba Inu has slipped to the 13th spot at the time of writing this piece.

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