Entrepreneur Justin Sun filed a lawsuit on Wednesday accusing a Trump family-backed cryptocurrency platform of fraud and alleging he was blocked from withdrawing his assets.
In a San Francisco federal court filing reviewed by Agence France-Presse, the Chinese-born crypto billionaire and former Trump ally claims to have bought US$45 million worth of WLFI, an electronic currency launched by World Liberty Financial in October 2024.
To thank him for the investment – at a time when WLFI was generating little initial interest – World Liberty Financial executives appointed him as an adviser and awarded him an additional 1 billion WLFI tokens, the lawsuit says.
Sales to investors subsequently accelerated, and in March 2025, World Liberty Financial – whose founders included US President Donald Trump’s sons Donald Jnr and Eric Trump – announced that it had sold US$550 million worth of the digital currency.
Sun also acquired several million dollars’ worth of $TRUMP, a meme coin marketed by Donald Trump just hours before his second term inauguration in January 2025.
This earned Sun an invitation to a dinner hosted by Trump in Washington in May 2025 for the 220 largest holders of $TRUMP.
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Infamous duct-taped banana eaten by crypto entrepreneur Justin Sun
Infamous duct-taped banana eaten by crypto entrepreneur Justin Sun