The People’s Court of China has passed a ruling in favor of Justice Sun, the founder of TRON DAO, in a case filed against the Media for character assassination. As a result, Chongqing Business Media Group, otherwise known as Simply Media, has tendered a written apology to Sun and removed every bit of the malicious content it had posted.
The Media has, in the letter of apology, categorically mentioned that it was responsible for writing unsubstantiated derogatory remarks. Sun was compelled to bear with the situation for a full two years, as the case was first filed on March 11, 2022.
Following several rounds of thorough study and a long trial procedure, the Chongqing Yubei District Court declared the Media guilty without giving another date. The court ruled that all the allegations made by the media house, such as insider trading and money laundering, were entirely false and devoid of supporting evidence. The judge ordered that the Media release an apology in the public domain through a national newspaper.
This comes as a relief for Justin, who has thanked the court for clearing his name from allegations.
The Court’s ruling has sent a strong message to several media houses to refrain from publishing unsubstantiated information, especially if the character of the individual or company is forcibly pushed under the public lens in a derogatory fashion because it can create stupendous harm.
The verdict’s impact is evident in TRON DAO’s native token. It is up by 0.75% in the last 24 hours and is listed at $0.1233 at the press time. The value further reflects a rise of 5.92% and 9.97% in the last 7 days and 30 days, respectively, applicable in the same order. There is a notable uptick in 24-hour trading volume. The figure in the above column has increased by 31.52%.
Near-term predictions are bearish. TRON could dip to $0.10249 in the next 5 days and $0.119085 in the next 30 days. The monthly fall will take the value down by 3.04% from its current standing. However, it is too early to negate the possibility of upswings in the future. Justin’s name has been cleared by the court. It means that there is no dark stain on TRON DAO’s reputation in terms of money laundering or insider trading.
TRON’s movements on the price charts have a 2.19% volatility rate. Prevailing sentiments are bullish, with the 14-day RSI hovering around 57.14.
TRON has also surpassed SHIB in terms of market cap. TRON’s value is over $10 billion, while SHIB is slightly below that mark. TRON has climbed to the 11th spot, and Shiba Inu has slipped to the 13th spot at the time of writing this piece.