Billionaire Justin Sun, who recently acquired Maurizio Cattelan's artwork 'Comedian,' takes legal action against Bloomberg News
Billionaire Crypto Tycoon Justin Sun Files Lawsuit Against Bloomberg Over Cryptocurrency Holdings
In a dramatic turn of events, billionaire Justin Sun has filed a lawsuit against Bloomberg LP and Bloomberg Inc. in Delaware federal court, seeking to prevent the media company from disclosing detailed information about his cryptocurrency holdings. The lawsuit, filed on August 11, alleges that Bloomberg breached promises of confidentiality by intending to reveal exact figures of Sun's crypto assets, which he had shared only for net worth verification under assurances that such information would remain private.
At the heart of the dispute is Sun’s ownership of over 60 billion TRX tokens, the cryptocurrency native to Tron. According to an analysis of financial information provided in February 2025, Sun owns more than 60 billion Tronix. However, Bloomberg inaccurately reported that Sun owns 60% of all TRON tokens, a claim Sun vigorously denies.
Sun argues that revealing his wallet details and precise crypto holdings exposes him to risks such as hacking, kidnapping, theft, and irreversible financial loss, since cryptocurrency transactions cannot be undone. A 75 percent liquidity discount is applied to the value of the TRON token because Sun controls the majority of its supply. In addition to his TRX holdings, Sun also owns approximately 17,000 Bitcoin, 224,000 Ether, and 700,000 Tether.
Bloomberg’s legal team opposes Sun’s request for injunctions, citing First Amendment rights to report on verified assets. In response to Judge Maryellen Noreika on August 12, Robert M. Vrana, the attorney representing Bloomberg, stated that the basis of Sun's application for a temporary restraining order (TRO) is moot because Bloomberg News had already published an article about Sun approximately two hours before Sun's lawyers gave Bloomberg notice of this TRO application on August 10.
The case remains active as of the latest reports, reflecting ongoing tensions between transparency in billionaire crypto wealth rankings and privacy/security concerns for high-profile crypto figures.
In other news, Sun made headlines earlier this year for reportedly spending $75 million on coins from World Liberty Financial, a controversial Trump-backed crypto firm. He also offered to buy 100,000 bananas from the fruit vendor who sold the banana used for the artwork and ate the banana in front of journalists during a press conference in Hong Kong. Last November, Sun bought Maurizio Cattelan's Comedian (2019) for $6.24 million in a 10-minute bidding war. Most recently, Sun announced he would be buying $100 million worth of President Donald Trump's memecoin, $TRUMP.
[1] Molly White, "Justin Sun Sues Bloomberg Over Crypto Holdings", Citation Needed, August 11, 2025. [2] "Justin Sun Files Lawsuit Against Bloomberg Over Crypto Holdings", Bloomberg, August 11, 2025. [3] "Billionaire Justin Sun Sues Bloomberg Over Crypto Holdings", The Verge, August 11, 2025. [4] "Bloomberg Opposes Justin Sun's TRO Request Over Crypto Holdings", Coindesk, August 12, 2025. [5] "Justin Sun's Lawsuit Against Bloomberg Over Crypto Holdings: What You Need to Know", Forbes, August 12, 2025.
- Justin Sun, the billionaire crypto tycoon, is also known for his interest in contemporary art, as he purchased Maurizio Cattelan's Comedian (2019) for $6.24 million last November.
- The ongoing exhibition of contemporary art in New York city features Justin Sun's acquisition, Comedian (2019), adding cryptocurrency-related wealth to the world of art collecting.
- The technology-focused billionaire, Justin Sun, has demonstrated an affinity for both digital currency and traditional finance, with around 17,000 Bitcoin, 224,000 Ether, and 700,000 Tether in addition to his vast TRX holdings.
- Despite his involvement in technology and finance, Justin Sun's lawsuit against Bloomberg over cryptocurrency holdings has brought attention to privacy and security concerns that parallel those faced by art collectors when showcasing valuable pieces.
