World Liberty Financial Files Defamation Lawsuit Against Crypto Billionaire Justin Sun
World Liberty Financial, a cryptocurrency venture co-founded by President Donald Trump and his sons, has filed a defamation lawsuit against Justin Sun, a crypto billionaire. The lawsuit, filed in Florida, seeks damages and a retraction of statements Sun made on social media about World Liberty Financial. Sun had previously sued the startup for fraud, alleging he was blocked from selling digital tokens worth up to $1 billion.
World Liberty Financial claims that Sun engaged in a smear campaign against the company, alleging that he bet against the company's crypto tokens and used third parties to make purchases to conceal his identity. The company also froze tokens owned by one of Sun's companies to protect its interests and the $WLFI token holders. Despite attempts to address the misconduct, Sun allegedly continued his campaign against World Liberty Financial.
Sun's attorneys have not responded to the lawsuit, but Sun dismissed it as a PR stunt and expressed confidence in defeating the case in court. The lawsuit accuses Sun of making false claims on social media, including accusing the company of treating the crypto community as a personal ATM and having improper governance practices. World Liberty Financial also alleges that Sun used online influencers and fake social media accounts to spread lies.
The company claims that Sun's posts, viewed millions of times, were harmful to World Liberty Financial due to his prominent position in the crypto industry. Sun, the founder of Tron, has a net worth of nearly $12 billion and made headlines in 2024 for purchasing a piece of conceptual art for $6.2 million. The legal battle between World Liberty Financial and Sun continues as both parties stand by their actions and statements.