{"id":56891,"date":"2026-05-04T20:42:09","date_gmt":"2026-05-04T20:42:09","guid":{"rendered":"https:\/\/www.europesays.com\/people\/56891\/"},"modified":"2026-05-04T20:42:09","modified_gmt":"2026-05-04T20:42:09","slug":"trump-familys-world-liberty-financial-sues-crypto-billionaire-justin-sun-for-defamation","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/people\/56891\/","title":{"rendered":"Trump family’s World Liberty Financial sues crypto billionaire Justin Sun for defamation"},"content":{"rendered":"

(CBS NEWS) \u2013 CBS News reports that World Liberty Financial,<\/a>\u00a0a cryptocurrency venture co-founded by President Donald Trump and his sons, on Monday sued Justin Sun for defamation, alleging that the crypto billionaire engaged in a \u201cpublic smear campaign\u201d to attack the business.<\/p>\n

The lawsuit, filed in the Eleventh Judicial Circuit Court for Miami-Dade County, Florida, seeks unspecified damages and a public retraction of statements Sun made on social media about World Liberty Financial.<\/p>\n

The allegations mark an escalation in the conflict between World Liberty Financial and Sun, a major investor. In April,\u00a0Sun sued the startup<\/a>\u00a0for fraud, claiming he was illegally blocked from selling digital tokens worth up to $1 billion.<\/p>\n

World Liberty Financial, which\u00a0debuted in 2024<\/a>, was founded by Donald Trump Jr., Eric Trump, and entrepreneurs Zachary Folkman and Chase Herro. Its tokens have lost about 81% of their value over the past year and are trading at about 6 cents,\u00a0according<\/a>\u00a0to CoinMarketCap.<\/p>\n

\u201cScorched earth\u201d<\/p>\n

In its lawsuit, World Liberty Financial alleges that Sun bet against the company\u2019s crypto tokens, which trade under the $WLFI ticker, and made so-called straw purchases by using third parties to purchase tokens to conceal his identity. The company also said it froze tokens owned by one of Sun\u2019s companies to \u201cprotect World Liberty and the broader community of $WLFI holders.\u201d<\/p>\n

\u201cNevertheless, rather than work constructively with World Liberty to address the misconduct, Sun embarked on a scorched earth pressure campaign against World Liberty to try to extract hundreds of millions of dollars from World Liberty, including having his counsel threaten litigation designed to \u2018light World Liberty on fire\u2019,\u201d the lawsuit claims.<\/p>\n

\u201cWhen World Liberty refused to capitulate to Sun\u2019s threats, Sun launched his public smear campaign,\u201d the company further alleged.<\/p>\n

Sun\u2019s attorneys didn\u2019t immediately respond to a request for comment.<\/p>\n

In a\u00a0post<\/a>\u00a0on X, Sun on Monday dismissed World Liberty Financial\u2019s suit as \u201ca meritless PR stunt.\u201d He added, \u201cI stand by my actions and look forward to defeating the case in court.\u201d<\/p>\n

The World Liberty Financial lawsuit alleges that Sun made false claims on social media, including allegations that the company \u201ctreat[s] the crypto community as a personal ATM\u201d and that its governance practices were improper. World Liberty Financial also accused Sun of employing online influencers and \u201cfake social-media \u2018bot\u2019 accounts to amplify his lies.\u201d<\/p>\n

\u201cCollectively, Sun\u2019s posts were viewed millions of times and generated widespread media coverage,\u201d the lawsuit claims.<\/p>\n

Because Sun is a prominent figure in the crypto industry, his comments were \u201cprofoundly harmful to World Liberty,\u201d the company alleges.<\/p>\n

Sun, who founded the decentralized blockchain platform Tron in 2017, has a net wealth of nearly $12 billion, according to the Bloomberg Billionaires Index. In 2024, he made headlines for his $6.2 million purchase of a piece of conceptual art consisting of a\u00a0banana duct-taped to a wall<\/a>.<\/p>\n

For 24\/7 news and updates, follow us on\u00a0Facebook<\/a>\u00a0and\u00a0X.<\/a>\t<\/p>\n

\t\t\t\tTags: across<\/a>, cbs<\/a>, CBS News<\/a>, Mississippi<\/a>, MS<\/a>, o Local<\/a>, of<\/a>, of America<\/a>, press<\/a>, release<\/a>, state<\/a>, statewide<\/a>, the country<\/a>, U.S.<\/a>, united states<\/a>, usa<\/a>
\n\t