Justin Sun, the Tron blockchain founder, has initiated proceedings against Bloomberg and seeks an injunction preventing the release of what he claims to be false and confidential financial data.
In a complaint filed on Monday in the federal court of Delaware, Sun alleges that Bloomberg has published inaccurate information on his assets in the Bloomberg Billionaires Index.
Sun, in a blog post from the Tron team, states that the profile released on Monday provides “dramatically and dangerously misleading” numbers regarding Sun’s net worth.
Sun seeks a temporary restraining order preventing Bloomberg from recklessly and improperly disclosing the sensitive and proprietary financial information.
Bloomberg, in court paperwork, indicated it would oppose the order and application, stating that Sun’s request is moot, as the article appeared before his application was even submitted.
Sun Claims Assurances of Confidentiality Were Broken
In his legal filing, Sun states that Bloomberg first contacted him in February 2025 to discuss his inclusion in the Bloomberg Billionaires Index.
In order to be included, Bloomberg sought verification of his assets, and this included details of cryptocurrency holdings.
Sun alleges he agreed only after he received specifically worded assurances that all of this information, especially in relation to his crypto assets, would be “strictly confidential” and only to verify his net worth.
Sun alleges that he was made to believe that all of his crypto holdings would be disclosed as a significant sum, as had been done for other crypto billionaires.
Bloomberg intended to disclose exceedingly detailed breakdowns of all of Sun’s finances, including what Sun now claims are false statements regarding assets he never had, as well as omitting those that he actually has.
Also Read: Justin Sun Rings The Opening Bell For Tron Inc. At Nasdaq Today
Dispute Escalates Ahead of Publication
Things got fiery when Sun sent Bloomberg a cease-and-desist letter on August 2, telling them they could not publish the specifics of his holdings.
Sun explained that after Bloomberg told him they would go ahead with the article anyway, he went for an emergency restraining order.
Sun claims the article inaccurately cited some of his cryptocurrency holdings, neglected to cite others, and would subject him to serious security risks like stealing, hacking, kidnapping, and endangerment to his family.
In Tron’s blog post, he wrote that these inaccuracies do pose potential personal and financial risks because the nature of his crypto wealth is public.
Bloomberg Argues First Amendment Protection and Timing Issue
Bloomberg’s lawyers are making a strong legal argument against Sun’s temporary restraining order request, stating that there is no “irreparable harm” suffered or justification for the request because the article had already gone live before Sun filed his motion.
They argue the story went live a full two hours before the legal filing requesting to stop publication was legally moot.
Bloomberg is also planning to argue the temporary restraining order to stop the publication would violate First Amendment Freedom of the Press protections and warn that granting such a request “would severely disserve the public interest.”
The outlet’s lawyers also said Sun would be unable to show evidence for a temporary restraining order that the article invaded his privacy; he suffered irreparable harm, or breach of a confidentiality agreement.
Also Read: TRON Founder Justin Sun Voices Support for President Trumps’ $TRUMP Token Post-Dinner Meeting
Bloomberg’s Report Highlights Sun’s TRX Holdings
In the updated profile released on Monday, Bloomberg reported that Sun’s wealth comes mainly from his TRX holdings, the native token of the Tron blockchain.
The outlet reported that its conclusions were based on an analysis of financial information provided by Sun’s representatives in February 2025.
According to Bloomberg, cryptocurrency constitutes the bulk of his net worth, with holdings of TRX outweighing his Bitcoin and other assets.
However, the report only gave its confidence rating of one star out of five, which Sun says highlights “the weakness” of the outlet’s reporting.
While agreeing with its low confidence score, Bloomberg still maintained that its analysis was based on information provided directly by Sun’s team, something he vehemently disputes.