Justin Sun and the ties with Trump: the US SEC questions its Chairman Paul Atkins

The Securities and Exchange Commission (SEC) of the USA questions the ties of Justin Sun, CEO of Tron, with the President of the United States Donald Trump.

The Securities and Exchange Commission (SEC) is facing questions from Congress over its ties with President Donald Trump.

What happened: A report by Blockstix details how members of the House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies questioned Chairman Paul Atkins on some events.

Among them was the case of crypto executive Justin Sun, who is currently being sued by the SEC for selling unregistered securities through several token offerings.

The case began in 2023 and Sun is known for investing in Trump-backed ventures.

Earlier this year, Sun participated in the token presale for World Liberty Finance, a project supported by the Trump family.

Recently, Sun was also preparing to attend a gala dinner with the biggest holders of the TRUMP memecoin.

"This, frankly, smells very fishy to me. My hope is that the SEC investigates this piece," said Ivey.

"It’s an active case. We’re continuing to investigate. And in terms of memecoins, the SEC has stated in several cases that they are not securities," responded Atkins, who has been in his role for a month.

Another topic that arose was the crypto-related portion of the omnibus bill. Among the issues discussed was the GENIUS Act, which proposed regulation for U.S. stablecoins.

However, the Senate blocked the bipartisan bill with a vote of 48 in favor and 49 against.

The proposal of the GENIUS Act came as Trump was siding with the crypto industry. Still, the block aligns with the sti pending concerns over potential conflicts of interest regarding Trump’s financial ties to the crypto sector.

Earlier this year, the former president disclosed investments in several crypto firms, including (NYSE:APA) and (NASDAQ:NET).

The SEC is currently in the process of registering several crypto firms, including several that have ties to Trump.

One such case is that of (CRYPTO:ADA), which is being sued by the SEC for allegedly defrauding investors.