Written by: TechFlow Dishwasher
When you are famous, you are prone to gossip, said Brother Sun.
Recently, Justin Sun won the lawsuit against Chongqing Business Media Group. The People's Court ruled that the media should make a public apology in accordance with the law, proving that the "SEC investigation" was pure fabrication.
In the blockchain field, compliance operations under the existing legal framework are extremely difficult due to blurred boundaries, especially for those once-famous industry celebrities and hot projects. Due to various restrictions, they are often the ones who passively shape their image, and their opportunities to make their voices heard in mass media channels are relatively slim.
Back to this lawsuit, the media source was a report published by the American technology media The Verge on March 9, 2022, and the article clearly mentioned that the SEC/IRS/FBI and the prosecution system had not made direct accusations against Justin Sun. However, in the defendant's report published on March 11, it changed to "FBI investigating Justin Sun, suspected of insider trading Business News", as well as "evading ICO ban", "suspected of fraud", "money laundering", etc. It was obviously off topic, and no fact checking was conducted within 2 days.
After a lengthy lawsuit, Justin Sun finally won the victory, but he only sought a public apology and payment of notarization fees from the defendant and did not make any other claims. The mental trauma that lasted for more than two years was finally healed.
Lies run fast, and truth limps behind
It took two years, but justice finally arrived.
The power of the media lies in its control over information sources and communication channels. As McLuhan said, the medium is the message. What is important is not the information itself, but the shaping of the information and the control of the channels. For example, the news flashes of this media are basically the editing and splicing of original reports, rather than the conclusions of their own investigations.
Opening the Civil Code, we can find that Article 1,024 clearly stipulates that civil subjects enjoy the right to reputation, and no organization or individual may infringe upon the reputation of others by means of insults, defamation, etc. Reputation is a social evaluation of the character, reputation, talent, credit, etc. of civil subjects.
In Sun Yuchen's case, the court found that the defendant, Chongqing Business Media Group Co., Ltd., failed to fulfill its reasonable verification obligations and the reports it published contained false content, infringing Sun Yuchen's right to reputation. Therefore, the court ruled that the defendant should bear the tort liability, including deleting the false reports, making a public apology and compensating for the losses.
It is now very clear who is on the right side. Two years later, Justin Sun proved himself and got the compensation he deserved - his reputation was restored.
Although he won the lawsuit, it may take a long time for Sun Yuchen to return to his normal image. In the early stages of new technology change and adoption, there will always be a group of pioneers to try, break through the forbidden zone, and establish new industry norms.
This is indeed somewhat unfair, as those who prove their innocence become the victims who are directly stigmatized.
In the wave of blockchain technology, TRON and its founder Justin Sun have always been the focus of the industry. Sun is not only the leader of TRON, but also actively promotes the cooperation between USDT and TRON, creates a stable currency market worth hundreds of billions, and greatly promotes the implementation and popularization of blockchain around the world.
However, this false report in 2022 has pushed him and TRON to the forefront of public opinion. But Justin Sun has never given up. Just like the two-year lawsuit, someone has to stand up.
Sun Yuchen's victory is not only a defense of his personal reputation, but also an important boost to the compliance process of the blockchain industry. During the trial, the court conducted an in-depth understanding and investigation of the operation mode of the blockchain industry, which not only proved Sun Yuchen's personal compliance, but also provided a reference for other blockchain companies to operate in compliance.
After the blockchain industry emerged from its earliest barbaric era, how to enter the mainstream has become a top priority. In the West, Europe has introduced more regulatory measures, such as MiCA's detailed regulations on stablecoins. The United States has clarified regulatory boundaries through a series of lawsuits and completed the connection with the mainstream financial industry through ETFs. However, in the vast Eastern world, except for the reserved areas and experimental areas in Hong Kong, China, blockchain still has a long way to go.
Just as the future development of the crypto industry is heading towards compliance, Justin Sun has also been thinking about how to make crypto technology benefit more ordinary people, extending from stablecoins and exchanges. More and more ordinary individuals are included in the modern financial service system. Even in the two years when he was hurt by false reports, he has never relaxed his dream of financial inclusion.
Sun Yuchen’s victory in the defamation case reveals a common sense that is often overlooked: even practitioners in the blockchain industry have the right to protect their legitimate rights and interests through the law.
On the other hand, since the blockchain industry can also go to court, it also indirectly shows that the blockchain industry has a certain degree of legitimacy. This is the greatest significance and surprise of this case.
Personal reputation is a small matter, Web3 industry is a big matter
No one is an island, and Justin Sun has always wanted to be a weather vane for the development of the blockchain industry.
There is no need to deny that for a long time, the image of the blockchain concept in most mainstream contexts has tended to be negative, and the promotion of some media has not only failed to help the occurrence and application of the new technological revolution, but also caused misunderstandings.
Just like the transparency of blockchain, Sun Yuchen has also been providing detailed data on the transaction volume of TRON and Huobi HTX, which shows his absolute confidence in himself. This transparency shows the public one of the core advantages of blockchain technology - the transparency and traceability of data, and guides the public to trust blockchain technology.
Although Justin Sun won the battle to defend his reputation, some people think that this is an exaggeration and there is no need to make a big deal out of it. However, from the overall perspective of industry development, this may also be related to the development of Web3.
Building a good industry image is closely linked to the personal reputation of practitioners. As a veteran in the blockchain industry, Justin Sun has been working hard for this.
As a public figure, Sun Yuchen's victory in defending his reputation rights provides a reference for other public figures to protect their rights. This not only helps to protect personal reputation, but also reminds the public that supervision and criticism should be based on facts and avoid unwarranted attacks and slander.
If you open the comment section of Justin Sun’s social media, you will find two things. The first is that Justin Sun faces more common ridicule in the comment section than defamation every day. The second is that Justin Sun never closes the comment section, allowing everyone to vent.
In fact, according to the provisions of the Civil Code and the court's decision, the defendant has been using insulting and defamatory language to evaluate Justin Sun, and any natural person has the right to reputation.
In a sense, Justin Sun has never been "banned" or disappeared. He has always existed, whether you like it or not.
Sun Yuchen's victory not only provided legal support for the restoration of his personal reputation rights, but also provided the public with an important window to understand and recognize blockchain technology, and promoted the public's cognition and understanding of blockchain technology and its industry.
In fact, the judicial field is also closely related to blockchain. For example, the Supreme People's Court has issued the "Opinions on Strengthening the Judicial Application of Blockchain" in order to further promote the application of blockchain technology in the judicial field.
Blockchain + justice not only helps to improve judicial efficiency and transparency, but also promotes the iteration and updating of laws to adapt to the needs of technological development. Justin Sun has always been a pioneer in expanding the boundaries of blockchain applications, and this time he has also put it into practice.
From the advent of Bitcoin in 2008 to Justin Sun’s acquaintance with Ripple and his return to China to start a business, Justin Sun has experienced almost all industry hotspots, including public chains (TRON), exchanges, DeFi, stablecoins, NFTs, RWA, etc.
Conclusion
If Heaven has feelings, it will also grow old. Justin Sun has passed his thirties, and the youth of a generation has also passed with the glory. I hope that this legal victory will allow Justin Sun to remain true to his original intention and continue to contribute to the development of the blockchain industry.
Being famous and slandered is the fate of innovators in every era.