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Famous all over the world, slandered all over the world, it is the destiny of every innovator in the era.
Author: Deep Tide TechFlow Dishwasher
When one is famous, there are many rumors, as Sun Yuchen said.
Recently, Sun Yuchen won the lawsuit against Chongqing Business Media Group, and the People's Court ruled that the media should publicly apologize in accordance with the law, proving that the "SEC investigation" against him was purely fictitious.
In the field of blockchain, compliance operations under the existing legal framework are extremely difficult due to the blurred boundaries, especially for industry celebrities and hot projects. Due to various restrictions, they are often passive in shaping their image, and the opportunity to voice out through mainstream media channels is relatively slim.
In the current lawsuit dispute, the source of the media is the report published by the American technology media The Verge on March 9, 2022, and it clearly mentioned that the SEC/IRS/FBI and the prosecution system did not directly accuse Sun Yuchen of any wrongdoing. However, in the defendant's statement released on March 11, it was changed to "FBI investigates Sun Yuchen, suspected of insider trading Business Express", as well as "evading ICO ban", "suspected of fraud", "money laundering", and so on. Clearly off-topic, and no fact-checking was conducted within two days.
After a long lawsuit, Sun Yuchen finally won, but he only sought a public apology from the defendant and payment of notary fees, without any other claims, and the mental trauma of more than two years was finally healed.
Lies run fast, truth limps behind
It took two years, and justice may be delayed, but it arrives.
The power of the media lies in the control of the source of information and the channels of dissemination. As McLuhan said, the media is information, and the important thing is not the information itself, but the shaping of the information and the control of the channels. For example, in the breaking news of this media, it is basically a cutting and splicing of the original report, rather than a conclusion drawn from independent investigation.
Opening the "Civil Code", it can be found that Article 1024 clearly stipulates that civil subjects enjoy the right to reputation, and no organization or individual may infringe on the reputation of others by means of insult or defamation. Reputation is the social evaluation of the character, reputation, talent, and credit of civil subjects.
In Sun Yuchen's case, the court found that the defendant Chongqing Business Media Group Co., Ltd. did not fulfill its reasonable verification obligations, and the published report contained false content, infringing on Sun Yuchen's right to reputation. Therefore, the defendant was ordered to bear the tort liability, including deleting the false report, publicly apologizing, and compensating for the losses.
The truth is very clear at this point. Sun Yuchen has proven himself after two years and received the compensation he deserves—restoring his reputation.
Although he has won the lawsuit, it may still take a long time for Sun Yuchen to return to a normal public image. In the early stages of new technological changes and adoption, there will always be a group of pioneers who try to break through the barriers and establish new industry norms.
This is indeed somewhat unfair, as the innocent are instead victims of direct stigmatization.
In the wave of blockchain technology, TRON and its founder Sun Yuchen have always been the focus of the industry. Sun Yuchen is not only the leader of TRON, but also actively promoted the cooperation between USDT and TRON, creating a stable coin market of over a hundred billion, and greatly promoting the landing and popularization of blockchain worldwide.
However, the false report in 2022 pushed him and TRON to the forefront of public opinion. But Sun Yuchen did not give up, just as he did during the two-year lawsuit, someone always has to stand up.
Sun Yuchen's victory in the lawsuit is not only a defense of his personal reputation, but may also be an important push for 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 the compliance of Sun Yuchen personally, but also provided a reference for other blockchain enterprises to operate in compliance.
After the blockchain industry has emerged from its early barbaric era, it is urgent to mainstream it. In the West, Europe has introduced more regulatory measures, such as MiCA's detailed regulations on stable coins, and the United States has clarified regulatory boundaries through a series of lawsuits, and completed the integration with the mainstream financial industry through ETF. However, in the vast Eastern world, apart from the reserved areas and experimental zones in Hong Kong, China, the road for blockchain is still long.
Just as the future development of the encryption industry is moving towards compliance, Sun Yuchen has also been thinking about how to make encryption technology benefit more ordinary people, extending from stable coins and exchanges, and more and more ordinary individuals are being included in the modern financial services system. Even during the two years of harm caused by false reports, he has never given up his dream of financial inclusion.
The victory of Sun Yuchen's reputation case reveals a common sense that has been overlooked: even practitioners in the blockchain industry have the right to defend their legitimate rights through the law.
In other words, since the blockchain industry can also go to court, it indirectly indicates that the blockchain industry has a certain degree of legitimacy, which is the greatest significance and surprise of this case.
Personal reputation is small, Web3 industry is big
No man is an island, and Sun Yuchen has always wanted to be a beacon for the development of the blockchain industry.
It is needless to say that for a long time, the image of blockchain in most mainstream contexts has tended to be negative, and the exacerbation by some media not only does not help the occurrence and application of new technological revolutions, but also causes misunderstandings.
Just as the transparency of blockchain, Sun Yuchen has always provided various data on the trading volume of TRON and Huobi HTX, demonstrating absolute confidence in himself. This transparency shows one of the core advantages of blockchain technology—transparency and traceability of data, guiding the public to form trust in blockchain technology.
Although Sun Yuchen has won his battle to defend his reputation, some people believe that this is making a mountain out of a molehill and is unnecessary. However, from the perspective of the overall development of the industry, this may also be related to the development of Web3.
Building a good industry image is closely linked to the personal reputation of practitioners. Sun Yuchen, as a veteran of the blockchain industry, has been working towards this goal.
As a public figure, Sun Yuchen's victory in the protection of his reputation provides a reference for other public figures to safeguard their rights. This not only helps protect personal reputation, but also reminds the public to base their supervision and criticism on facts, and avoid baseless attacks and defamation.
If you open the comments section of Sun Yuchen's social media, you will find two things: first, Sun Yuchen faces more common ridicule in the comments section than infringement of reputation every day, and second, Sun Yuchen never closes the comments section, allowing people to express themselves freely.
In fact, according to the provisions of the Civil Code and the court's judgment, the defendant has made insulting and defamatory comments about Sun Yuchen, and any natural person has the right to reputation.
In a sense, Sun Yuchen has never been "banned" or disappeared, he has always existed, whether you like it or not.
Sun Yuchen's victory not only provides legal support for the restoration of his personal reputation, but also provides an important window for the public to understand and recognize blockchain technology, promoting the public's understanding of blockchain technology and its industry.
In fact, the judicial field is also closely related to blockchain, such as the Supreme People's Court once 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 + judiciary 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. Sun Yuchen has always been a pioneer in expanding the boundaries of blockchain applications, and this time is no exception.
From the birth of Bitcoin in 2008 to Sun Yuchen's acquaintance with Ripple and his return to China for entrepreneurship, Sun Yuchen has experienced almost all industry hotspots, including public chains (TRON), exchanges, DeFi, stable coins, NFT, RWA, and more.
Conclusion
If heaven has feelings, it will also grow old. Sun Yuchen has passed the prime of his life, and the youth of a generation also passes with the flow of time. I hope this legal victory will not change Sun Yuchen's original intention and will continue to shine for the development of the blockchain industry.
Famous all over the world, slandered all over the world, it is the destiny of every innovator in the era.
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