SEC v. Justin Sun postponed again due to government shutdown

The hold on the Securities and Exchange Commission’s (SEC) case against Justin Sun has been extended once again, with the request specifically mentioning “appropriations lapses” resulting from the government shutdown.

The SEC attorney assigned to the case has been “furloughed and prohibited from working,” according to a recent filing.

The lawsuit was originally filed against Sun in 2023, amended to 2024, and put on hold in February of this year.

Read more: SEC, TRX, BTT sues Justin Sun over market manipulation

The lawsuit alleges that Sun participated in market manipulation without proper disclosure, sold unregistered securities, and hired influencers to promote its tokens.

Mr. Sun has been a vocal financial supporter of Mr. Trump and is World Liberty Financial’s largest investor. Projects Trump is profiting from.

World Liberty Financial has appointed Sun as an advisor on the project.

Read more: Trump-backed World Liberty Financial buys Justin Sun tokens

Since then, World Liberty Financial has blacklisted a large number of the tokens Mr. Sun had purchased and even publicly hinted that Mr. Sun was misusing them.

Sun is also a major investor in the TRUMP memecoin project, which also provides financial benefits to the president. The token was also used to give large investors, including Sun, the chance to have dinner with the president.

Oddly enough, the address at which he signed this dinner was associated with HTX, an exchange he owns. maintains highly questionable reserves.

The request for an extension of stay in the SEC case also states that “the parties expect to resume discussions toward a final resolution of this matter after the closure ends.”

The closure is the result of Congress’ failure to approve a budget or continuing resolution.

It’s unclear when this issue will be resolved, depending on whether Congress returns to session and successfully passes a budget bill or continues with a resolution to reauthorize spending from the Treasury Department.