(Bloomberg) -- Crypto billionaire Justin Sun and his companies sued World Liberty Financial, a crypto project co-founded by President Donald Trump, accusing the company of extortion and an “illegal scheme” to seize his tokens.
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In a complaint filed Tuesday in San Francisco federal court, Sun also claimed that “World Liberty is on the verge of collapse” and questioned whether it holds enough reserves to back its USD1 stablecoin.
Sun invested a total of $45 million to buy 3 billion of World Liberty’s WLFI tokens in 2024 and 2025, and was awarded another billion WLFI tokens for advising the project, according to the suit.
But he says his relationship with World Liberty’s team soured mid-last year, after he declined to provide more investment and support to the project. In recent weeks, Sun and World Liberty have been exchanging punches on social network X amid the project’s deepening clash with early investors.
World Liberty declined to comment.
Source: Drudge Report
