1 week ago
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World Liberty Financial, the Trump family’s cryptocurrency company, is suing billionaire investor Justin Sun for defamation after he accused the firm of improperly freezing his tokens.
In a lawsuit filed Monday, the company argued that Sun engaged in a “campaign of defamatory statements” on the social platform X.
“Sun’s posts impugn World Liberty, a Florida-based decentralized finance company, and its governance integrity and business relationships, causing substantial and ongoing harm to World Liberty,” the lawsuit reads.
Sun, who founded the crypto company TRON, was a major early investor in World Liberty Financial. He purchased about three billion tokens from World Liberty Financial in the months after it was launched by President Trump and his sons in the fall of 2024.
The dispute between the two parties has been brewing since last summer, when Sun first posted on X that his tokens had been frozen. He filed a lawsuit against World Liberty Financial in late April, accusing the company of “engaging in an illegal scheme to seize property.”
However, World Liberty Financial argues that it exercised “authority that was clearly and repeatedly disclosed to Sun” when the company froze his tokens.
It alleges that the billionaire engaged in misconduct, including “suspected short selling” and “straw purchases” of tokens on behalf of undisclosed third parties. The company also accused Sun of “hiring influencers and deploying fake social-media ‘bot’ accounts to amplify his lies.”
Sun dismissed the lawsuit Monday as “nothing more than a meritless PR stunt,” adding in a post on X, “I stand by my actions and look forward to defeating the case in court.”
English (US) ·