US Senator criticizes SEC for reaching $10 million settlement with Justin Sun, accusing Trump administration of 'favoring crypto allies' BlockBeats News: On March 6th, US Senator Elizabeth Warren publicly criticized the $10 million settlement agreement reached between the America Securities and Exchange Commission and Justin Sun, and withdrew related charges, stating that regulators are becoming "watchdogs" for Donald Trump and his crypto allies. According to reports, the settlement involves cases related to Rainberry, stemming from the SEC's lawsuit against Justin Sun and his company in 2023, accusing him of illegally issuing digital assets, manipulating trading volume, and concealing payment of promotional fees to celebrities. Justin Sun neither acknowledges nor denies the allegations in the agreement. Warren stated that Justin Sun had invested approximately $90 million in cryptocurrency projects related to the Trump family, including the purchase of at least $75 million in WLFI tokens and approximately $18 million in TRUMP Meme coins. He also stated that any cryptocurrency legislation pushed by Congress must prevent the president from "profiting from the cryptocurrency business. According to reports, since Trump's return to the White House in 2025, the SEC has suspended or withdrawn multiple cryptocurrency industry cases, including some enforcement actions against Coinbase, Ripple Labs, and Kraken, indicating a clear shift in regulatory attitudes. Justin Sun stated that the settlement brings an end to the case and will continue to promote cryptocurrency innovation and collaborate with regulatory agencies to establish industry rules in the future.