Justin Sun, creator of TRON and billionaire suing the Trump family, posted an ambiguous message on X stating that Poloniex is now “the world’s only exchange used solely by the boss himself.” This statement suggests he himself generates most of the trading volume on his platform, which constitutes wash trading, a practice of exchanging assets with oneself to create artificial activity. The SEC had previously accused Sun, in a since-dropped case, of wash trading his TRX token. Wash trading is illegal in most countries because it can be used to manipulate asset prices. Rumors circulating in China this weekend claimed Sun had been shot in Dubai, but he denied these reports by posting “All is well” on X.
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