Crypto Entrepreneur Files Fraud Suit Against Trump Family Firm
Crypto entrepreneur Justin Sun has sued the Trump family's crypto startup, World Liberty Financial, alleging a fraudulent scheme to pressure him into buying digital coins. Sun claims World Liberty restricted his access to his purchased coins after he resisted buying more.
Justin Sun, a prominent crypto entrepreneur, has filed a lawsuit against World Liberty Financial, a crypto startup backed by the Trump family. Sun alleges that World Liberty engaged in a fraudulent scheme to pressure him into buying its digital coins. He claims that after purchasing $75 million in coins, World Liberty restricted his access to them when he resisted buying more. World Liberty had created a second cryptocurrency, a stablecoin called USD1, and allegedly pressured Sun to invest $200 million. Sun's lawsuit accuses World Liberty of 'egregious misconduct' and leveraging the Trump brand to profit through fraud. The Trump family launched World Liberty in September 2024, with a cryptocurrency called $WLFI, which saw increased sales after Sun's investment. World Liberty has denied any wrongdoing, and representatives for Sun and World Liberty did not immediately respond to requests for comment.
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