Crypto billionaire sues Trump-linked project alleging extortion
(Bloomberg) -- Crypto billionaire Justin Sun and his companies sued World Liberty Financial, a crypto project co-founded by President Donald Trump...
Etienne Note: This article also appears in “Government”, Media and Academia Criminality Exposed, A digest of HUNDREDS and HUNDREDS of articles exposing and suggesting inter-generational organized crime’s control of the “Government,” Media and Academia by the Art of Liberty Foundation. You can view the other articles or subscribe on Telegram: https://t.me/Government_Scams
(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.
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.
“Unfortunately, certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump’s values,” Sun said in a post on X.
In the complaint, Sun alleged that he and his companies suffered “hundreds of millions of dollars in damages” when World Liberty “secretly installed powers” that enabled the company to freeze Sun’s tokens and prevented him from selling any.
Burn Tokens
The company also seized the power to burn Sun’s tokens, even though they are located in his own digital wallet, and acquired new blacklisting powers to restrict the transfer of users’ tokens, according to the complaint. In November, Sun said, World Liberty implemented a change that allowed it to reallocate WLFI tokens from any user to another.
Sun alleged that World Liberty has been “trying to pressure” him to invest in its USD1 stablecoin and promote its use on the Tron blockchain, which he started, as well as “attempting to extract an equity investment in World Liberty’s holding company.” When by July it became clear he wouldn’t commit, “World Liberty principals became hostile toward Mr. Sun,” according to the complaint.
In September, a co-founder of the project, Chase Herro, threatened to burn Sun’s tokens, which were then worth $776 million, according to the complaint. World Liberty also threatened to report Sun to criminal authorities if he tried to vindicate his rights, “a pressure tactic that itself qualifies as criminal extortion,” according to the complaint.
Trump Memecoin
Sun says World Liberty said it froze his WLFI tokens in part because the company was upset he purchased $100 million of Trump’s memecoin.
Herro didn’t immediately respond to a request for comment outside regular business hours.
World Liberty agreed in December not to burn Sun’s tokens during negotiations that continued until late February, according to the complaint.
Sun alleged that World Liberty “appears to be in financial distress.” World Liberty recently took out a loan using WLFI tokens as collateral. The company has said it has enough capital to avoid defaulting on that loan.
Sun asked the court to unfreeze his tokens, award unspecified monetary damages and prevent World Liberty from burning or encumbering his tokens.
Early investors in the project are still unable to trade 80% of their tokens. A proposal currently being considered would delay access to trading the tokens for at least two years. The project’s insiders won’t have access to their tokens for even longer under the proposal.
The case is Sun v. World Liberty Financial LLC, 26-cv-03360, US District Court, Northern District of California (San Francisco).
New Arrival: “The COVID Code” by Zowe Smith
The Art of Liberty Foundation is proud to help promote and distribute a story they didn’t want told: The COVID Code: My Life in the Thrill Kill Medical Cult by Zowe Smith. More than a personal journey, this book documents the dark influence of Big Pharma over Western medicine. Zowe Smith, a former healthcare employee, shares a shocking insider’s account of the systemic fraud she witnessed behind hospital doors.
She uncovers how the current system is capable of murdering patients for profit while hiding its crimes by lying with statistics—specifically through the ICD coding system. Readers looking for truth, resistance, and redemption will find all three in these pages. Once you start reading, you won’t look at the medical establishment or public health the same way again.
Get Your Copy Today:
- Paperback Edition: Purchase The COVID Code now for $25.00 exclusively at ArtOfLiberty.org/Store.
Support the Art of Liberty Foundation’s Mission:
Go paid at the $5 a month level, and we will send you both the PDF and e-Pub versions of Etienne’s new book: To See the Cage Is to Leave It - 25 Techniques the Few Use to Control the Many, the PDF of Hayek for the 21st Century and a coupon code for 10% off anything in the https://artofliberty.org/store/.
Go paid at the $50 a year level, and we will send you a free paperback edition of The Covid Code – My Life in the Thrill Kill Medical Cult by Zowe Smith OR Etienne’s new book: To See the Cage Is to Leave It OR “Government” - The Biggest Scam in History… Exposed! OR a 64GB Liberator flash drive PLUS a paperback copy of Hayek for the 21st Century if you live in the US.
Support us at the $250 Founding Member Level and get a free paperback edition of The Covid Code – My Life in the Thrill Kill Medical Cult by Zowe Smith AND a signed high-resolution hardcover of “Government” - The Biggest Scam in History... Exposed! + Liberator flash drive AND a signed high-resolution hardcover of Etienne’s new book: To See the Cage Is to Leave It PLUS everything else in our “Everything Bundle” PLUS a paperback copy of Hayek for the 21st Century delivered domestically.
Comments ()