Sun claims his tokens have been indefinitely frozen and his voting rights revoked since he refused to accept the terms of a new governance proposal submitted on April 15, which required that 10 percent of all company advisers\u2019 tokens be permanently burned.<\/p>\n
In a 52-page complaint<\/a> filed with the U.S. District Court for the Northern District of California on Monday, Sun \u2013 an adviser himself \u2013 explains that he \u201clawfully purchased\u201d $45 million-worth of WLF tokens, \u201cwhich at times have been valued at over $1 billion,\u201d in 2024, at what he said was a \u201cpivotal time\u201d for the venture.<\/p>\n Sun credits his \u201cdecisive anchor investment\u201d with helping to establish the credibility of WLF, which is run by the president\u2019s sons Donald Trump Jr<\/a> and Eric Trump,<\/a> by delivering a timely \u201cpublic vote of confidence\u201d when it was a fledgling prospect struggling with \u201clackluster demand.\u201d<\/p>\n He says he was moved to become involved \u201cbecause of the project\u2019s claims that it would promote adoption of decentralized finance,\u201d a personal pet cause, and \u201cbecause of the Trump family\u2019s association with the project,\u201d describing himself as a long-time \u201cardent supporter of President [Donald] Trump and the Trump family.\u201d<\/p>\n However, Sun explains that he soon became disenchanted with his investment and alleges that WLF\u2019s \u201coperators\u201d treated the project \u201cas a golden opportunity to leverage the Trump brand to profit through fraud,\u201d alleging that they made him \u201ca prime target of their fraudulent scheme\u201d and that he and his companies had duly incurred \u201chundreds of millions of dollars in damages.\u201d<\/p>\n The complaint goes on to accuse WLF of making multiple false statements, inducing Sun\u2019s investments through fraud and scheming to secure more capital from him, misrepresenting the company\u2019s compliance with the law, improperly freezing his tokens, making threats and defamation.<\/p>\n It further alleges that WLF is currently \u201con the verge of collapse\u201d and \u201csevere financial insolvency\u201d and has planned to pay \u201cmost of the token sale proceeds \u2013 up to 95 percent \u2013 to company insiders.\u201d<\/p>\n Sun and his companies are seeking a jury trial and hope to force WLF to unfreeze his tokens and block it from \u201cseizing, burning, destroying, or encumbering\u201d them, as well as damages and costs.<\/p>\n The Independent has reached out to the Trump Organization for comment.<\/p>\n In a post on X (Twitter)<\/a>, Sun was at pains to make clear that he continued to support Trump personally despite the litigation, but had come to feel that \u201ccertain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump\u2019s values.\u201d <\/p>\n He listed the wrongs he believes he has suffered but excused the president himself, who is credited as WLF\u2019s \u201cchief crypto advocate,\u201d stating: \u201cI do not believe President Trump would condone these actions if he knew about them.\u201d<\/p>\n Born in China but a citizen of St. Kitts and Nevis with a home in Hong Kong, Sun\u2019s company, Tron, was reportedly the subject of interest from the Department of Justice and the Treasury\u2019s Financial Crimes Enforcement Network during the Biden era, amid concerns about its \u201cgrowing in popularity among illicit actors.\u201d <\/p>\n The Securities and Exchange Commission<\/a> had also charged him with fraudulently manipulating the market.<\/p>\n However, The Wall Street Journal noted<\/a> that his \u201cfortunes took a turn\u201d after he began investing in WLF, causing the SEC to drop its charges in February 2025 and the other government inquiries to fall away.<\/p>\n Sun has always denied any wrongdoing and said that his involvement in the president\u2019s cryptocurrency project was not \u201cpolitically-motivated.\u201d<\/p>\n Since Trump\u2019s return to power last year, WLF has been regularly hit by accusations concerning potential conflicts of interest and its alleged vulnerability to foreign influence, with Hunter Biden recently invoking it to attack the Trumps by saying, \u201cTheir hypocrisy knows no bounds.\u201d<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Your support helps us to tell the story From reproductive rights to climate change to Big Tech, The…\n","protected":false},"author":2,"featured_media":37683,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[8385,75,694,807,1812,2110,74,9434],"class_list":{"0":"post-37682","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-donald-trump-jr","8":"tag-crypto","9":"tag-donald-trump-jr","10":"tag-economic","11":"tag-financial","12":"tag-money","13":"tag-tech","14":"tag-trump","15":"tag-trumps"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@people\/116447863468137096","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/37682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/comments?post=37682"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/posts\/37682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media\/37683"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/media?parent=37682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/categories?post=37682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/people\/wp-json\/wp\/v2\/tags?post=37682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Donald](\"https:\/\/www.europesays.com\/people\/wp-content\/uploads\/2026\/04\/2229940321.jpg\")
Donald Trump Jr and Eric Trump, the president’s sons, oversee World Liberty Financial, the family’s controversial cryptocurrency venture (Getty)<\/p>\n![\"Justin](\"https:\/\/www.europesays.com\/people\/wp-content\/uploads\/2026\/04\/2026-04-22T074424Z_903516993_RC26QDAGN6OE_RTRMADP_3_USA-TRUMP-WORLD-LIBERTY-JUSTIN-SUN.jpg\")
Justin Sun, founder of Tron, is suing World Liberty Financial but insists he has no grudge against the president personally (Reuters)<\/p>\n