Justin Sun Sues Bloomberg Over Alleged False Crypto Wealth Report

Summary: Why did Justin Sun sue Bloomberg?

Justin Sun filed a lawsuit against Bloomberg, claiming the outlet published false and private details about his cryptocurrency holdings in its Billionaires Index. He alleged the report linked him to assets he never owned while omitting ones he does hold. Bloomberg plans to contest the lawsuit, arguing it has First Amendment protections and that Sun cannot show irreparable harm.

Justin Sun, founder of the blockchain platform Tron, has filed a lawsuit against major news outlet Bloomberg and requested a temporary restraining order, claiming the outlet published inaccurate and private financial details in its Billionaires Index. Bloomberg, however, has indicated it intends to contest the legal action.

On Tuesday, Tron DAO published a blog post featuring a statement issued by Sun’s representatives on his behalf. “In an edition of the Bloomberg Billionaires Index released on August 11, 2025, Bloomberg knowingly published inaccurate data that dramatically and dangerously misrepresents Mr. Sun’s assets,” the blog post stated.

Sun’s representatives alleged that Bloomberg’s report inaccurately linked Sun to crypto assets he has never owned, controlled, or benefited from, while omitting mention of assets he does hold.

The post stated that, before Bloomberg released its Index, Sun’s representatives had informed the outlet that its claims were inaccurate and should not be published. It added that a cease-and-desist letter was subsequently issued to Bloomberg in an effort to stop the release of what it described as unverified, confidential, and private information.

On Monday, Sun took legal action against Bloomberg, requesting an order to prevent the outlet from disclosing specific information. The following day, Bloomberg’s attorneys informed the court they would challenge the request, noting that the publication had already released the material before Sun’s filing, rendering the issue no longer applicable.

Additionally, Bloomberg plans to argue in its opposition that granting Sun’s request for a temporary restraining order would violate its First Amendment protections by imposing an unlawful prior restraint on publication.

The outlet contends that Sun is unlikely to prevail on his invasion of privacy or promissory estoppel claims, asserting that the evidence shows no promise was breached. Bloomberg further maintains that Sun cannot demonstrate irreparable harm and that such an order would run counter to the public interest.

This case spotlights the growing tension between press freedom and the responsibility to report accurately, especially in the fast-moving world of cryptocurrency. Its outcome could influence how similar disputes are handled in the future, shaping the standards for reporting on crypto assets, investor information, and the reputations of industry figures.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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