Justin Sun
An eccentric billionaire is accusing President Donald Trump of fraud relating to his family's biggest recent grift scheme, and in an interview with New York magazine, further accused the president of "threatening" him to keep quiet.
Intelligencer called Chinese billionaire Justin Sun "one of the richest people in the world, having made his fortune in the no-rules early phase of the crypto industry" in its Monday profile, further detailing how he invested $30 million in the Trump family's crypto firm World Liberty Financial and joined it as an advisor in late 2024. The firm has emerged as the epicenter of the Trump family's cryptocurrency dealings, and, in the wake of numerous shady deals, is now considered its biggest overall financial venture.
As he moved forward with World Liberty Financial, however, Sun came to see the investment as a "colossal mistake," as the firm's promised products never materialized and its various tokens crashed in value, costing investors massive sums of money. In April of this year, he sued the company, "alleging fraud and breach of contract.""Today, the thing I regret the most is not only that my money got stuck but that my name is on the project,” Sun told the outlet. “I believe many other people also got harmed... I never expected this to happen to me. This is the worst-case scenario."
He added further: “I thought surely these people would not do what they did with such a public profile attached. Looking back, I was wrong about that. Unfortunately, as alleged in the complaint, certain operators leveraged the Trump brand to profit through fraud.”
Sun's suit against World Liberty notably does not name either Trump or his sons, Donald Trump Jr. and Eric Trump, and he claims to remain an "ardent supporter" of the president. He insisted to one source who spoke with the Intelligencer that the suit is not a "political issue," and accused the company of acting "like young punk criminals" and giving the crypto a industry a bad name.
The company, meanwhile, did not sit back in response to Sun's suit.
"On May 4, a couple of weeks after Sun filed his suit, World Liberty sued him for defamation," the report detailed. "Represented by the law firm Clare Locke, which successfully sued Fox News over its 'big lie' coverage following the 2020 election, World Liberty tells a different version of events. Though sections of its accusations are redacted, World Liberty claims in the suit that it froze Sun’s coins to 'protect' itself and its investors from prohibited conduct by Sun. Just before the $WLFI tokens started trading, the company alleges, Sun placed a large bet against them, transferring $300 million 'to fund an aggressive short position.' It also claims Sun made 'straw purchases' on behalf of other investors. Notably, though, World Liberty did not sue Sun for breach of contract or fraud."
Sun dismissed this suit as an effort to silence him.
“I believe that World Liberty is trying to threaten me into silence, but that will not work,” he said. “I stand by the decision to speak out about conduct that I believe was improper and harmful to token holders... I believe the evidence will prove our allegations to be true.”
- Trump Hosting Another 'Orgy Of Corruption' In Palm Beach To Push $Trump Memecoin ›
- How Crooked Is Trump? His Grifting And Corruption Are Growing Every Day ›
- Trump Family Wins Big Again In Crypto, While Their Investors Lose Even Bigger ›
- Crypto Entrepreneur Justin Sun Sues Trump Family’s World Liberty Financial, Accusing It of Fraud - The New York Times ›
- Justin Sun Sues Trump-Backed World Liberty in Crypto Suit - Dynamis LLP ›
- Trump-linked WLFI sues Justin Sun over alleged short-selling smear | Fox News ›
- Trump family crypto project countersues billionaire backer Sun for 'smear campaign' | Reuters ›
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