Sun Sues Trump-Backed Crypto Venture Over Alleged Breach of Contract and Fraud
Crypto mogul Justin Sun has filed a lawsuit against World Liberty Financial, a Trump family venture, alleging breach of contract and fraud. Sun has invested tens of millions of dollars in various enterprises tied to President Donald Trump and his family.
The suit claims that World Liberty Financial's executives froze Sun's investment in the firm's digital tokens as leverage to persuade him to promote another one of the company's offerings, called USD1. This strategy is described by Sun as 'a pressure tactic that itself qualifies as criminal extortion.'
Sun has been a long-time supporter of President Trump and his family, investing at least $45 million in World Liberty Financial due in part to their association with the project.
World Liberty Financial's spokesperson directed ABC News to posts on X from Eric Trump, who called the suit 'ridiculous,' and co-founder Zach Witkoff, who described the claims as 'entirely meritless.'