Justin Sun sues Trump family's crypto venture over frozen assets
On Wednesday, billionaire Justin Sun initiated a lawsuit in federal court in San Francisco, alleging fraud against World Liberty Financial, a cryptocurrency platform backed by the Trump family. The entrepreneur, originally from China, contends that his $45 million investment in WLFI tokens was locked, hindering his ability to resell the digital currency. Sun asserts that after he invested in October 2024, when WLFI saw minimal interest, he was appointed as an adviser and granted an extra 1 billion WLFI tokens. Following a surge in sales, World Liberty Financial—established by Donald Trump's sons, Donald Jr. and Eric—reported $550 million in sales by March 2025. Additionally, Sun purchased several million dollars in $TRUMP, a meme coin promoted by Trump prior to his January 2025 inauguration, which led to an invitation for a May 2025 dinner in Washington for the top 220 $TRUMP holders.
Key facts
- Justin Sun filed a lawsuit on Wednesday in San Francisco federal court.
- The lawsuit accuses World Liberty Financial of fraud.
- Sun claims his $45 million investment in WLFI tokens was frozen.
- WLFI was launched by World Liberty Financial in October 2024.
- Sun was appointed as an adviser and awarded 1 billion WLFI tokens.
- World Liberty Financial's founders include Donald Trump Jr. and Eric Trump.
- In March 2025, World Liberty Financial announced $550 million in WLFI sales.
- Sun also bought $TRUMP meme coin and attended a Trump dinner in May 2025.
Entities
Institutions
- World Liberty Financial
- Agence France-Presse
- San Francisco federal court
Locations
- San Francisco
- United States
- Washington
- China