TRON DAO founder Justin Sun has secured a legal victory in the People’s Court of China against the Chongqing Business Media Group (“the Media”) over a defamation suit. According to the latest crypto news, the court ordered the Media to remove its false content and formally apologise to Sun, acknowledging the severe damage caused to his reputation by unverified and defamatory claims.
The Media admitted in its apology that it had published false information without proper fact-checking, which significantly harmed Sun’s reputation. The Chongqing Yubei District Court’s first-instance ruling found the Media guilty of defamation, citing unverified articles and videos that falsely accused Sun. The court ordered the retraction of all false content and a public apology in a national newspaper. Neither party appealed, making the decision final.
The TRON DAO defamation suit highlighted the impact of unverified media reports. On March 11, 2022, the Media published an article on eastmoney.com accusing Sun of insider trading, fraud, and money laundering, among other allegations. The source of these claims was an opinion piece by The Verge, which relied on anonymous sources and lacked concrete evidence.
The TRON DAO defamation suit involved a thorough review of evidence by the People’s Court of China. The court examined The Verge’s article, the Media’s reproduced content, and other domestic media interpretations. The court concluded that The Verge’s article and the Media’s reports were entirely without factual basis. The final verdict confirmed that all allegations against Sun, including insider trading and money laundering, were unsubstantiated.
The ruling aligns with the “Reply of the Supreme People’s Court to the Defendant Status of Newspaper Publishers and the Application of Jurisdiction in Cases of Infringement of the Right to Reputation” from 1988, which holds news agencies accountable for verifying the accuracy of their reports.
Impact on TRON DAO and the Crypto Community
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The victory in the TRON DAO defamation suit reinforces the importance of upholding the rights of individuals in the crypto community. It discourages the spread of misinformation and highlights the need for accurate and reliable news reporting. This case sets a legal precedent for addressing unfounded rumours within the blockchain and cryptocurrency sectors where the consequences of such acts can be catastrophic, especially when widely used currencies like Bitcoin (BTC) and Ethereum (ETH) come into play.
TRON DAO is a community-governed organization dedicated to decentralizing the internet through blockchain technology and decentralized applications (dApps). Founded in September 2017 by Justin Sun, the TRON network has achieved significant milestones since the MainNet launch in May 2018. The integration of BitTorrent in July 2018 further strengthened the ecosystem, with over 100 million monthly active users.
As of June 2024, the TRON network boasts over 239.72 million total user accounts, 7.91 billion total transactions, and a total value locked (TVL) of $20.60 billion, according to TRONSCAN. TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin, surpassing USDT on Ethereum since April 2021. The network achieved full decentralization in December 2021, becoming a community-governed DAO. In October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, marking the first partnership between a major public blockchain and a sovereign nation.
Conclusion
The BIT Journal says that the TRON DAO defamation suit underscores the importance of factual reporting and the legal protections available against defamation. Justin Sun’s victory not only restores his reputation but also serves as a warning to media outlets about the consequences of spreading unverified information. This crypto update highlights the need for responsible journalism within the crypto community and reinforces the legal framework protecting individuals’ reputations.
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