Famous billionaire and creator of TRON, Justin Sun, has initiated legal proceedings against World Liberty Financial, a firm linked to the family of U.S. President Donald Trump.
Famous billionaire and creator of the cryptocurrency project TRON, Justin Sun, has filed a lawsuit against World Liberty Financial, a company linked to the family of U.S. President Donald Trump. He accuses World Liberty, the issuer of the cryptocurrency, of extortion and using an "illegal scheme" to seize the issued WLFI tokens.
According to Sun, World Liberty, co-founded by Trump himself and his son Eric, has "frozen" all of his tokens. This deprived him of his voting rights in the company's management. World Liberty, for its part, categorically rejected these accusations. The company stated that Sun "is trying to portray himself as a victim and is making baseless claims to cover up his own dishonorable actions."
Sun, a known supporter of Trump and his cryptocurrency policies, accused "some people" from World Liberty Financial of actions that contradict the values of the U.S. President. In his social media, Sun stated: "They have unfoundedly frozen all my tokens, stripped me of my voting rights on management proposals, and threatened to irreversibly destroy my tokens through 'burning' without any legal justification."
The founder of TRON, which issues the cryptocurrency Tronix, initially invested $45 million in WLFI. He claimed that the value of his tokens reached over a billion dollars. However, since September of last year, the value of the WLFI token has significantly decreased. It has fallen from 31 cents to less than 8 cents.
Essence of the Accusations
Sun explained his involvement with World Liberty by his long-standing support for cryptocurrency projects and the company's ties to the Trump family. In July 2025, he also purchased Trump's meme coins, a cryptocurrency created by the U.S. President, for $100 million.
At the same time, Sun claims that the managers of World Liberty, including co-founder Chase Herro, view the company as a "golden opportunity to exploit the Trump brand for enrichment through fraud." In a complaint filed on Tuesday in federal court in San Francisco, Sun states that the company's promises of future cryptocurrency trading for token holders "were false and misleading."
He claims that World Liberty Financial did not allow him to sell tokens when they began trading. Now the company threatens to "burn" his cryptocurrency, completely destroying it. Zak Whitcoff, co-founder of World Liberty Financial and son of Trump's special envoy Steve Whitcoff, called Sun's lawsuit "a desperate attempt to divert attention from his own unworthy actions." "His claims are unfounded, and World Liberty is prepared to ensure that the court swiftly dismisses this case," Zak Whitcoff stated. He also noted that Sun committed "misdeeds that forced World Liberty to take measures for its protection and the protection of users."
Eric Trump added: "The only thing that was even more foolish than this lawsuit is spending $6 million on a banana taped to a wall." He reminded that at the end of 2024, Sun purchased Maurizio Cattelan's installation "Comedian" at a Sotheby's auction for $6.2 million. This installation consists of a banana taped to a wall. Later, Sun ate the banana, calling it "a unique artistic experience." Investors also expressed concern that World Liberty is taking out loans. These loans are secured by the value of its tokens.
Conclusion of the Investigation
The U.S. Securities and Exchange Commission recently concluded its investigation into Sun's activities. Democratic Senator Elizabeth Warren speculated that this decision might be related to the businessman’s involvement in Trump’s cryptocurrency projects.
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