The U.S. District Court for the Southern District of New York has revealed that the SEC has withdrawn its lawsuit against Justin Sun, Tron Foundation, and BitTorrent Foundation. The case, filed in 2023, accused the parties of conducting unregistered securities offerings through TRX and BTT, as well as market manipulation. As part of a settlement, Rainberry, formerly known as BitTorrent Inc., has agreed to pay a $10 million civil penalty to the SEC. The settlement was reached without any admission or denial of the allegations, and Rainberry has committed to refraining from deceptive practices in the securities market.