Billionaire Justin Sun sues Trump family's crypto business
upi.com • • business
Key Points:
- Billionaire Justin Sun is suing the Trump family's World Liberty Financial crypto business, accusing it of extortion and wrongful freezing of his WLFI tokens, which he claims were stripped of his voting rights and threatened with destruction without justification.
- World Liberty Financial, co-founded by Donald Trump, Eric Trump, Steve Witkoff, and others in 2024, denies any wrongdoing and calls Sun's lawsuit meritless, accusing him of misconduct that necessitated protective actions.
- Sun alleges the company made false promises about token tradeability and blocked him from selling his WLFI tokens, despite them becoming tradeable, and he backed the project due to Trump's support for cryptocurrencies.
- WLFI token value has dropped from 31 cents in September to 8 cents currently, and Sun previously invested $100 million in Trump's meme coins in 2025.
- Eric Trump dismissed the lawsuit as ridiculous, comparing it to spending $6 million on a banana duct-taped to a wall, while Zach Witkoff criticized Sun's claims as a distraction from his own alleged misconduct.
