Justin Sun, the controversial crypto billionaire and founder of the Tron (TRX) blockchain, has ignited a new legal dispute by filing a lawsuit against media company giant Bloomberg on Monday.
The lawsuit, submitted in Delaware, accuses Bloomberg of “improperly” disclosing sensitive financial information about Sun’s cryptocurrency holdings in a recent article, which he claims could lead to significant and irreparable harm.
Justin Sun Battles Bloomberg’s Financial Disclosure
The crux of the matter lies in a series of interactions between Sun and Bloomberg earlier this year. Bloomberg had approached Sun for potential inclusion in its “Billionaires Index,” a compilation of the world’s wealthiest individuals.
To feature in the index, Bloomberg required Sun to disclose his financial information for net worth verification. However, Sun allegedly raised concerns about the confidentiality and security of his data.
Assurances from a Bloomberg representative, Ms. Shen, led Sun to believe that only general details about his assets, particularly his cryptocurrency holdings, would be shared in the Billionaires Index.
It is alleged that Sun scrutinized existing profiles on the index to gauge the extent of financial disclosures, especially concerning cryptocurrency assets. Despite initial reservations, Sun eventually agreed to participate, trusting Bloomberg’s commitment to confidentiality.
However, the situation took a contentious turn when Sun discovered Bloomberg’s intention to publish detailed financial information beyond his expectations.
In response, Sun’s legal team accused Bloomberg of breaching promises of confidentiality and privacy, emphasizing that any unauthorized disclosure could lead to severe consequences.
Bloomberg Cites First Amendment Rights
In response to Justin Sun’s lawsuit, Bloomberg issued a letter asserting that granting a temporary restraining order (TRO) against the publication of this information would infringe upon its First Amendment rights.
In its defense, the media company argues that such prior restraint is only justified in rare circumstances, which they contend do not apply in this case.
Bloomberg maintains that Justin Sun cannot demonstrate a likelihood of success on his claims of invasion of privacy or promissory estoppel, and they assert that the publication is in the public interest.
According to the controversial publication made on August 13, Sun reportedly holds over 60 billion TRX tokens, the native cryptocurrency of the Tron blockchain, based on financial details disclosed by his representatives in February 2025.
Furthermore, the analysis reveals that Justin Sun’s cryptocurrency portfolio extends beyond TRX, encompassing approximately 17,000 Bitcoin (BTC), 224,000 Ethereum (ETH), and 700,000 Tether.
Notably, Sun’s ownership of the cryptocurrency exchange HTX comes into play. Bloomberg’s insights suggest that HTX, under Sun’s ownership, generated an estimated revenue of around $1.3 billion in 2024, factoring in its spot and derivative trading volumes and fee structures.
Featured image from DALL-E, chart from TradingView.com
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