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Fortune
Fortune
Ben Weiss

Justin Sun and Lindsay Lohan among group charged by SEC with illegally shilling crypto

Justin Sun Lindsay Lohan SEC Crypto United States FTX Gary Gensler Soulja Boy
Lindsay Lohan attends the Christian Siriano Fall/Winter 2023 NYFW Show at Gotham Hall on Feb. 9, 2023 in New York City. (Credit: Hippolyte Petit/Getty Images)

The Securities and Exchange Commission announced on Wednesday that it was charging Justin Sun, the founder of TRON Foundation and owner of BitTorrent, and a slew of celebrities, including Lindsay Lohan, for releasing and shilling for, respectively, the cryptocurrencies Tronix (TRX) and BitTorrent (BTT).

The federal regulator said in a statement that Sun's release and sale of TRX and BTT was akin to selling unregistered securities and alleged that he also manipulated markets for the tokens through wash trading—or falsely inflating the trading volume of an asset.

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