Tron (TRX) founder Justin Sun is suing Bloomberg in an attempt to stop the media outlet from revealing his crypto holdings.
In a federal lawsuit filed with the U.S. District Court in the District of Delaware, Sun argues that the public disclosure of his “sizable portfolio of various cryptocurrencies and other valuable assets” would cause him to “suffer significant and irreparable harm – both financially and physically.”
Sun’s dispute began when the news outlet approached him to list him on Bloomberg’s online “Billionaires Index,” a ranked list of the world’s richest people, according to court documents.
Says the court filing,
“Bloomberg told [Sun] that before he could be included in the Billionaires Index, Bloomberg would need to verify his assets to confirm his net worth. Prior to agreeing to participate, [Sun] received explicit assurances from Bloomberg that his highly sensitive, confidential, and proprietary financial information, particularly related to his cryptocurrency holdings, would be held ‘strictly confidential’ and was provided to Bloomberg for the sole purpose of verifying his total net worth.
Based on Bloomberg’s express promises of confidentiality, as well as a review of other Bloomberg billionaire profiles that include cryptocurrency holdings, which report only a lump sum value of cryptocurrency holdings, [Sun] agreed to participate in the Billionaires Index and provide Bloomberg with his sensitive financial information.
Despite its express promise of confidentiality, Bloomberg intends to publish [Sun’s] specific financial holdings – in granular detail – alongside misstatements about [Sun’s] holdings.”
Sun argues that publication of his crypto details is an invasion of privacy and puts him at “a significant risk of theft, hacking, kidnapping and bodily harm to him and his family.”
He is also asking the court to grant a temporary restraining order (TRO) to block Bloomberg from publishing the crypto details until the legal dispute is resolved. The attorney representing Bloomberg, Robert Vrana, argues the TRO request is “moot” because Bloomberg already published the info, which estimates Sun’s net worth at $12.4 billion.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Design Projects
