Billionaire backer sues Trump family's crypto firm over alleged extortion
4 hours ago
- #Investment Dispute
- #Cryptocurrency Lawsuit
- #Trump Business
- Billionaire Justin Sun is suing the Trump family's crypto firm, World Liberty Financial, alleging extortion.
- Sun claims WLFI froze his tokens, removed his voting rights, and threatened to burn them without justification.
- He invested $45M in WLFI, with tokens once valued at over $1B, but the price has dropped sharply.
- Sun's support was tied to the Trump brand, and he also bought $100M of Trump meme coins in 2025.
- World Liberty denies wrongdoing, accusing Sun of misconduct and seeking to get the case dismissed.
- The lawsuit highlights broader investor concerns and regulatory scrutiny around Trump-linked crypto ventures.
- Relatedly, Trump Media & Technology replaced its CEO after share prices fell, struggling with user growth.