Why is Tron founder Justin Sun suing Bloomberg?

Tron founder Justin Sun has sued media giant Bloomberg, accusing the firm of publishing false and highly confidential financial details in its billionaire rankings.

Per a Tuesday blog penned by Sun’s team, the profile published in the Bloomberg Billionaires Index on Monday “dramatically and dangerously misrepresents Mr. Sun’s assets.” 

The post said the outlet attributed cryptocurrency holdings to Sun, “he has never owned, controlled, or had any beneficial interest in” while failing to list tokens he does hold.

Details of the lawsuit

Court filings show Sun lodged the complaint in a Delaware federal court on Monday, seeking a temporary restraining order to block Bloomberg from publishing the disputed information. 

He argued the measure was necessary to stop the outlet from “recklessly and improperly disclosing his highly confidential, sensitive, private, and proprietary financial information.”

Sun claimed Bloomberg first approached his team in February, saying it needed to verify his assets to determine his net worth for inclusion in the Index. 

According to the filing, he agreed after receiving “explicit assurances” that the data—particularly his cryptocurrency holdings—would remain “strictly confidential” and used only for verification purposes.

However, Sun later found out that Bloomberg intended to publish “specific financial holdings — in granular detail — alongside misstatements” about his portfolio.

In response, Sun sent a cease-and-desist letter on Aug. 2, but said the outlet confirmed it would still release the article and planned to use the material for an unrelated story.

The accusations

In his complaint, Sun said the article not only contained inaccurate figures but also exposed him and his family to “significant risk of theft, hacking, kidnapping, and bodily harm.” 

His team argues that the one-star confidence rating Bloomberg attached to its analysis showed “the weakness of their reporting” and undermined the credibility of the figures.

The filing also claimed the report diverged from how Bloomberg presents other crypto-linked profiles, which typically list a lump-sum valuation rather than breaking down individual holdings. Sun maintained that this deviation, combined with the alleged errors, amounted to a breach of the confidentiality agreement he believed was in place.

Bloomberg says no wrong done

Bloomberg’s lawyers told the court on Tuesday they would oppose the restraining order, calling “the entire basis” of Sun’s application moot because the disputed article was already published before the court filing. 

Their rationale was that the article in question was published nearly two hours before Sun sought the court order on Monday evening.

Bloomberg’s defence plans to argue that blocking publication would infringe on its First Amendment rights to freedom of press and public access to information.

The publisher also intends to contest Sun’s claims of privacy invasion, irreparable harm, and breach of promise, saying he cannot meet the legal standards required for such relief.

The updated profile in the Bloomberg Billionaires Index reported that Sun holds a major share of TRON’s native token TRX, attributing the figure to an “analysis of financial information provided by representatives of Sun in February 2025.” 

Bloomberd noted that most of his net worth comes from crypto holdings.

Sun keeps making headlines

From buying and eating a million-dollar banana to flying to space, Sun has been involved in a string of headline-grabbing moments over the last couple of months.

Earlier this month, Sun boarded a Blue Origin New Shepard rocket for a brief suborbital flight from West Texas, nearly three years after winning the seat with a $28 million bid. 

Just a month earlier, Sun stood on the Nasdaq podium in Times Square to ring the Opening Bell for TRON Inc.’s debut on the exchange.

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