Senator Warren Criticizes SEC's $10 Million Settlement with Justin Sun, Alleging Pro-Trump Crypto Bias
U.S. Senator Elizabeth Warren on March 6 criticized the Securities and Exchange Commission for a reported $10 million settlement with Justin Sun that ended related charges, calling the regulator a "lapdog" for Donald Trump and his crypto allies, ChainThink reports. The settlement resolves a 2023 SEC lawsuit accusing Sun and his company Rainberry of illegally issuing digital assets, manipulating trading volumes, and failing to disclose celebrity promotion payments, with Sun neither admitting nor denying the claims. Warren said Sun has invested about $90 million in Trump family-linked cryptocurrency projects, including at least $75 million in WLFI tokens and roughly $18 million in TRUMP memecoins, and argued that any crypto legislation from Congress must block a president from profiting via crypto businesses. Since Trump returned to the White House in 2025, the SEC has paused or dropped several crypto enforcement actions, including parts of cases against Coinbase, Ripple Labs, and Kraken, according to reports cited by ChainThink.