Tron Founder Accused of Market Manipulation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Should l Buy TRX?
Source: Benzinga
- Market Manipulation Allegations: Zeng Ying claims to have been in a relationship with Justin Sun and accuses him of manipulating the market by using multiple accounts on Binance to conduct coordinated buying and selling, which, if true, could significantly impact his reputation and wealth.
- Evidence Disclosure Commitment: Zeng stated her willingness to fully cooperate with an SEC investigation and to submit WeChat chat records and other relevant evidence from Sun's employees, which could lead to legal repercussions and regulatory scrutiny.
- Insider Trading Claims: She asserts that insider trading and predatory practices involving TRX on Binance are the source of Sun's wealth, and if substantiated, these claims could attract widespread attention and potential regulatory actions in the cryptocurrency market.
- Public Reaction: The revelation has shocked many, with some demanding answers from Sun, while others are curious about why Zeng remained silent for eight years, potentially affecting Sun's public image and market trust.
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Analyst Views on TRX
Wall Street analysts forecast TRX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TRX is 1.47 USD with a low forecast of 1.25 USD and a high forecast of 1.75 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.440
Low
1.25
Averages
1.47
High
1.75
Current: 1.440
Low
1.25
Averages
1.47
High
1.75
About TRX
TRX Gold Corporation is a Canada-based gold company advancing the Buckreef Gold Project in Tanzania. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones: Buckreef South, Buckreef Main and Buckreef North. The Company produces gold at its 2,000 tons per day processing plant. The Buckreef Gold Project hosts a Measured and Indicated Mineral Resource of 10.8 million tonnes (MT) at 2.57 grams per tonne (g/t) gold containing 893,000 ounces (oz) of gold and an Inferred Mineral Resource of 9.1 MT at 2.47 g/t gold for 726,000 oz of gold. Its Eastern Porphyry and Anfield zones are located approximately 250 m to 700 metres (m) east of the Buckreef Main Zone.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Evidence Disclosure Commitment: Zeng stated her willingness to fully cooperate with an SEC investigation and to submit WeChat chat records and other relevant evidence from Sun's employees, which could lead to legal repercussions and regulatory scrutiny.
- Insider Trading Claims: She asserts that insider trading and predatory practices involving TRX on Binance are the source of Sun's wealth, and if substantiated, these claims could attract widespread attention and potential regulatory actions in the cryptocurrency market.
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- Psychological Price Pressure: Analysts suggest that XRP may fall below the critical $1 psychological level, which would negatively impact market sentiment and exacerbate the risk of price decline.
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- Market Manipulation Allegations: Zeng Ying claims to have been in a relationship with Justin Sun and accuses him of manipulating the market by using multiple accounts on Binance to conduct coordinated buying and selling, which, if true, could significantly impact his reputation and wealth.
- Evidence Disclosure Commitment: Zeng stated her willingness to fully cooperate with an SEC investigation and to submit WeChat chat records and other relevant evidence from Sun's employees, which could lead to legal repercussions and regulatory scrutiny.
- Insider Trading Claims: She asserts that insider trading and predatory practices involving TRX on Binance are the source of Sun's wealth, and if substantiated, these claims could attract widespread attention and potential regulatory actions in the cryptocurrency market.
- Public Reaction: The revelation has shocked many, with some demanding answers from Sun, while others are curious about why Zeng remained silent for eight years, potentially affecting Sun's public image and market trust.
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- Rapid Production Potential: Historical data from the Gran Esperanza project indicates gold veins averaging 1 to 5 meters in width, with historical sampling returning grades as high as 24.0 grams per tonne, showcasing the project's potential for delivering high-impact results quickly.
- Infrastructure Advantage: Located just 2 kilometers from a paved highway with gentle topography, the project benefits from excellent access, enhancing Golden Goose's development capabilities and competitiveness in the region.
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