Sun Sues Trump-Backed Crypto Venture Over Alleged Fraud and Contract Breach

Crypto mogul Justin Sun has filed a lawsuit against World Liberty Financial, a Trump family venture, alleging breach of contract and fraud. The lawsuit claims that World Liberty executives, excluding members of the Trump family, used the firm to leverage the Trump brand for personal gain through fraudulent means.

Sun invested approximately $45 million in World Liberty's digital tokens, at least partly due to his support for President Donald Trump and his family. However, Sun accuses the company of freezing his investment to pressure him into promoting their stablecoin, USD1, on his platform, TRON.

The lawsuit also claims that executives at World Liberty engaged in an 'illegal scheme to seize property' resulting in hundreds of millions of dollars in damages for Sun and his companies. A spokesperson for World Liberty Financial denied the allegations, stating that they look forward to getting the case thrown out promptly.