Justin Sun, the founder of the TRON blockchain, is navigating a turbulent period as new allegations surface regarding his alleged involvement in market manipulation during the early trading history of TRX. Zeng Ying, also known as Ten Ten, claims that Sun orchestrated a scheme to inflate the price of TRX through Binance accounts, only to sell off large volumes to unsuspecting retail investors.
According to Ten Ten, Sun directed employees to create Binance accounts using their identities. These accounts were purportedly utilized to artificially elevate the market price of TRX in late 2017 and early 2018. Once the prices were inflated, Sun allegedly dumped substantial amounts of tokens, profiting at the expense of everyday investors.
JUSTIN SUN’S GIRLFRIEND JUST EXPOSED HIM FOR IDENTITY FRAUD AND LARGE SCALE PRICE MANIPULATION OF $TRX ON BINANCE
CZ’S CLOSEST ALLY IS ABOUT TO GO DOWN WITH HIM pic.twitter.com/wC17nstNXk
— Leonidas $DOG (@LeonidasNFT) February 1, 2026
Ten Ten asserts that she possesses evidence, including WeChat messages and testimony from employees, which she is prepared to present to the U.S. Securities and Exchange Commission (SEC). Her allegations align closely with past claims made by the SEC against Sun, suggesting a persistent pattern of alleged misconduct.
Connecting the Dots to Previous SEC Allegations
In March 2023, the SEC had filed a lawsuit against Sun and various associated entities, alleging that he engaged in unregistered token sales and manipulated the market. The agency accused Sun of carrying out over 600,000 wash trades between 2018 and 2019, artificially pumping TRX’s price and trading volume. Notably, it was also claimed that Sun had paid celebrities to promote TRX and other tokens without proper disclosure.
While Ten Ten’s claims are yet to be verified, they offer further insights into the alleged unethical practices detailed in the SEC’s prior accusations. Unlike the SEC’s complaint, her statements specifically implicate Binance accounts and employee involvement, thereby adding a new layer to the narrative.
The Implications of Political Connections
The ongoing SEC case against Sun hit a pause in February 2025, coinciding with reports of his significant donations to entities associated with former President Donald Trump. One of his ventures, World Liberty Financial, is claimed to have reaped $50 million in profits, raising eyebrows among legislators.
In January 2026, U.S. Representatives Maxine Waters, Sean Casten, and Brad Sherman expressed their concerns in a letter to the SEC about whether Sun’s political affiliations influenced the enforcement actions, including the halting of critical crypto-related investigations involving Binance and other major players.
Sun’s Response and Current Silence
So far, Justin Sun has not directly addressed Ten Ten’s explosive allegations. On social media platform X, he responded to the situation by advising followers to “Ignore the FUD and keep building & holding.” Both Binance and the SEC have refrained from commenting on the accusations as of February 1, 2026.
Amidst these developments, Ten Ten has publicly expressed concern for her safety, ensuring that her evidence is securely stored. She has called upon Donald Trump and his son Eric to reconsider their connections with Sun, raising questions about the intersections of wealth, politics, and justice in the United States.
