ChainThink report, on March 6, U.S. Senator Elizabeth Warren publicly criticized the U.S. Securities and Exchange Commission's (SEC) $10 million settlement with Justin Sun and the subsequent dismissal of related charges, accusing regulators of becoming "gatekeepers" for Donald Trump and his crypto allies.

According to reports, the settlement pertains to a case involving Rainberry, stemming from an SEC lawsuit filed in 2023 against Justin Sun and his company, alleging illegal digital asset issuance, manipulation of trading volumes, and concealment of promotional payments to celebrities. In the agreement, Justin Sun neither admitted nor denied the allegations.

Warren stated that Justin Sun had invested approximately $90 million in crypto projects linked to the Trump family, including purchases of at least $75 million in WLFI tokens and around $18 million in TRUMP Meme coins, and emphasized that any forthcoming congressional crypto legislation must prevent the president from "profiting through crypto ventures."

Reports indicate that since Trump’s return to the White House in 2025, the SEC has paused or dismissed multiple cryptocurrency enforcement actions, including parts of cases against Coinbase, Ripple Labs, and Kraken, signaling a clear regulatory shift. Justin Sun said the settlement brings closure to the matter, and he will continue driving crypto innovation while collaborating with regulators to establish industry standards.