A cryptocurrency company, which President Trump is also involved with, is being sued for 'unilaterally freezing' tokens held by entrepreneurs.
Justin Sun, a prominent cryptocurrency entrepreneur and investor, has sued World Liberty Financial (WLFI), a cryptocurrency company he co-founded with President Donald Trump and his son. Sun alleges that the company made false statements in cryptocurrency transactions and threatened to freeze his cryptocurrency holdings.
gov.uscourts.cand.468319.1.0.pdf
(PDF file)
Blockchain billionaire Sun takes Trump family's crypto firm to court
https://www.nbcnews.com/tech/crypto/blockchain-billionaire-sun-takes-trump-familys-crypto-firm-court-rcna341523
Tron's Justin Sun sues Trump-linked World Liberty Financial over frozen assets
https://www.coindesk.com/policy/2026/04/21/tron-s-justin-sun-sues-trump-linked-world-liberty-financial-over-frozen-assets
Between the end of 2024 and the beginning of 2025, when WLF began operations, Mr. Sun spent $45 million (approximately 7.18 billion yen) purchasing the 'WLFI' token issued by the company.
According to Mr. Sun, there was an agreement that this token would not be centrally managed by WLF and would become freely tradable in the future.
However, when Mr. Sun later declined an investment offer for the 'USD1' stablecoin issued by WLF, the company unilaterally froze the tokens he owned, preventing him from selling them.
Sun claimed that this act had two purposes: to pressure him to buy USD1 and to manipulate market prices by preventing him, one of the largest holders of WLFI, from selling.
WLF has accepted the legal battle, stating that it has 'evidence.' Eric Trump, son of Donald Trump and one of the co-founders, posted on X that 'the crazier thing than this lawsuit is spending a lot of money on bananas taped to the wall.'
The only thing more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall. We are incredibly proud of the @worldlibertyfi team… https://t.co/ahfBKvCdwN
— Eric Trump (@EricTrump) April 22, 2026
Eric's post was a reference to the case where Sun purchased an artwork of 'bananas taped to a wall' for $6.24 million (approximately 940 million yen).
Why is the artwork that sold for over 900 million yen—simply 'bananas taped to a wall'—considered to have artistic value? - GIGAZINE
Mr. Sun is a supporter of President Trump and also approves of his cryptocurrency policies. He purchased more 'TRUMP,' a meme coin issued by President Trump, than anyone else at a past event where purchasing the coins would grant him a chance to attend a dinner party with the president. Despite the lawsuit, Mr. Sun still considers himself a fervent supporter of President Trump and the Trump family, both for many years and to this day.
$140 million worth of meme coins were bought up for a dinner party with President Trump - GIGAZINE
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