#TRUMP World Liberty Financial, the crypto firm controlled by President Donald Trump and his family, sued billionaire cryptocurrency investor Justin Sun on Monday, accusing him of defaming the company after it took action against him for allegedly committing misconduct.
▪︎World Liberty sued Sun in federal court, alleging the billionaire launched a “public smear campaign” against the company after it accused him of misconduct.
▪︎After investing some $75 million in World Liberty in 2024, buying its $WLFI crypto token through entities he controls, Sun engaged in widespread misconduct, World Liberty alleges, including short selling of $WLFI tokens to suppress its price and making straw purchases to acquire $WLFI tokens on behalf of other investors.
▪︎Sun has denied the allegations of misconduct—and had sued World Liberty himself in April, accusing the company of unlawfully seizing his tokens and blocking his voting rights in the company’s operations.
▪︎“Rather than work constructively with World Liberty to address the misconduct,” the lawsuit alleges, Sun instead launched a “scorched-earth pressure campaign” against World Liberty to restore access to his tokens, and then publicly “smear[ed]” the company on X after World Liberty “refused to capitulate to Sun’s threats.”
▪︎Sun’s claims have been “profoundly harmful” to World Liberty, the lawsuit alleges, claiming his statements against the company have damaged its reputation and caused it to lose out on business opportunities.
▪︎Sun’s attorney has not yet responded to a request for comment.
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