NEW ORLEANS SHERIFF, JAIL FINANCE CHIEF INDICTED ON DOZENS OF CHARGES TIED TO 10-INMATE ESCAPE. (PHOTO).
World Liberty Financial, a cryptocurrency venture co-founded by President Donald Trump and his sons, has filed a defamation lawsuit against billionaire crypto entrepreneur Justin Sun, accusing him of launching a “public smear campaign” against the company.
The lawsuit, filed in Florida’s Eleventh Judicial Circuit Court in Miami-Dade County, seeks unspecified damages and a court order requiring Sun to retract statements he made on social media about the firm.
The legal filing marks a sharp escalation in a growing dispute between the company and Sun, who is also a major investor in the project. In April, Sun previously sued World Liberty Financial, alleging he was improperly blocked from selling digital tokens he claims were worth up to $1 billion.
In its complaint, World Liberty Financial alleges Sun engaged in a coordinated effort against the company, including betting against its $WLFI tokens and using third parties in so-called straw purchases to hide his involvement. The company also claims it froze tokens tied to one of Sun’s entities, saying the move was intended to protect broader investors.
The lawsuit further alleges Sun escalated tensions after failed negotiations, accusing him of threatening litigation and engaging in what it described as an aggressive pressure campaign.
“Nevertheless, rather than work constructively with World Liberty to address the misconduct, Sun embarked on a scorched earth pressure campaign,” the filing states, adding that his legal team allegedly threatened action designed to “light World Liberty on fire.” The company says Sun then launched a public smear effort after his demands were not met.
Sun has not yet publicly responded through his attorneys. However, in a post on X, he dismissed the lawsuit as a “meritless PR stunt,” adding that he stands by his actions and expects to win in court.
World Liberty Financial also accuses Sun of making false statements online, including claims that the company “treat[s] the crypto community as a personal ATM” and that its governance practices are improper. It further alleges he used influencers and bot accounts to amplify criticism.
According to the lawsuit, Sun’s posts reached millions of viewers and drew widespread media attention, causing significant reputational harm due to his prominence in the cryptocurrency industry.
Sun, the founder of the Tron blockchain platform, has an estimated net worth of nearly $12 billion. He previously made headlines in 2024 for purchasing a banana taped to a wall for $6.2 million at a conceptual art auction.
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