The post Justin Sun fights a lot of lawsuits on behalf of companies he doesn’t own appeared on BitcoinEthereumNews.com.

Justin Sun frequently tangles with the legal system, historically as a defendant, but increasingly as the plaintiff.  These cases often involve firms of which Sun disclaims ownership but in which he’s deeply involved nonetheless.  First Digital hits back at Techteryx The lawsuit that has most recently entered the public consciousness is between Techteryx and First Digital Trust.  This suit contains allegations from Techteryx, the firm behind TrueUSD (TUSD), and alleges that First Digital Trust misappropriated portions of the TUSD reserves. It also discusses how large portions of the TUSD reserves were invested in a fund that is now refusing to honor redemptions. Sun asserts that First Digital Trust’s alleged insolvency is the reason for this rejection. Read more: First Digital defends FDUSD from Justin Sun’s attacks First Digital Trust, which is behind the FDUSD stablecoin, has taken to X to claim that both the firm and FDUSD are fully solvent. Furthermore, First Digital Trust suggests that the reason why TrueUSD’s redemption requests have not been honored is that it has been unwilling to disclose the ultimate beneficial owner after it acquired TrueUSD. It has long been rumored that Sun is behind Techteryx and TrueUSD, but Techteryx has repeatedly denied this in public and in comments to Protos. Nonetheless, he has been described as an “Asia market advisor” to the firm, has described himself as a “partner market maker,” and was willing to provide $500 million in liquidity to the firm.  Sun, Huobi, and the $30M hole Sun is also engaged in a dispute with Li Lin, the founder of Huobi (now HTX). This dispute largely centers around whether or not Huobi had a $30 million hole in its books when it was sold to About Capital Management. Li has denied these claims, stating that the so-called hole was a margin…

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Filed under: News - @ April 4, 2025 4:18 pm