- Justin Sun sued Bloomberg to stop the release of detailed financial information he calls confidential.
- The conflict began after Sun agreed to be included in Bloomberg’s Billionaire Index but disputed the usage of his private data.
- Sun says journalists assured him that the information would stay private and only be used for wealth verification.
- Bloomberg argued it had not agreed to Sun’s conditions and published his profile before the lawsuit was filed.
- Sun claims a detailed breakdown of his crypto assets puts him at risk and infringes upon his privacy rights.
Justin Sun filed a lawsuit against Bloomberg on August 11, aiming to block the company from releasing specific financial data he supplied for inclusion in Bloomberg’s Billionaire Index. The dispute focuses on whether Bloomberg can publish details about Sun’s cryptocurrency holdings after he claims he received assurances of confidentiality.
According to court documents, Bloomberg reporters requested additional proof of Sun’s net worth, asking for “as comprehensive a list as you can provide of all wallet addresses controlled by Justin.” Sun says he gave these details based on verbal promises from journalists that the information would remain private and be used only to verify his total wealth.
In messages shared with Bloomberg staff, Sun wrote, “All information shared within the group is strictly confidential and for verification purposes only. Once the verification is complete, the data must be deleted.” He added that reporters could use the material solely for verification, not for reporting, and warned that he would not answer any questions beyond those required for this process.
Despite Sun’s restrictions, Bloomberg staff indicated internally that they had not accepted these terms. In the group chat, Bloomberg’s Tom Maloney responded, “Nobody at Bloomberg agreed to the terms sent by Justin, weeks after the data was shared with us.” Another participant emphasized, “Justin never agreed to let Bloomberg use any of this personal financial information outside of just the wealth verification.” Maloney replied that the publication “never agreed to simply do a top-line number.”
After this exchange, Sun asked the court for a restraining order to block Bloomberg from sharing a more detailed breakdown of his wealth. Sun’s lawyers argued that cryptocurrency presents unique security risks because transactions cannot be reversed and knowing asset addresses exposes holders to theft or extortion. The court filing stressed that many of Sun’s crypto wallets are already public, but a detailed accounting would further endanger his privacy and safety.
Bloomberg’s response referenced the First Amendment, arguing that limiting publication would violate its constitutional rights and would set a dangerous precedent of prior restraint in reporting. The company also pointed out that Sun’s profile had already gone live on the Billionaire Index before Sun’s team filed suit, making a restraining order moot.
The legal filings also address Sun’s relationship with the cryptocurrency exchange HTX. While Sun previously denied owning the company, Bloomberg reported that, based on information from his team, Sun holds approximately 90% of HTX.
Both sides await the court’s decision about the publication of Sun’s detailed crypto holdings. Further updates will depend on legal outcomes and any changes in reporting conditions.
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