Chinese Crypto Billionaire Sues Trump Family's Cryptocurrency Investment Firm

Justin Sun

A Chinese entrepreneur who became a billionaire through cryptocurrency has filed a lawsuit against a virtual currency investment firm operated by the family of former U.S. President Donald Trump.

According to the Wall Street Journal (WSJ) on the 22nd (local time), Sun Yuchen (Justin Sun), the founder of the virtual currency TRON, filed a complaint in a California federal court the previous day, alleging criminal extortion by 'World Liberty Financial'.

World Liberty Financial is a virtual currency investment firm co-founded by President Trump's three sons.

In the complaint, he stated that he had been accumulating WLFI, a token (blockchain-based virtual currency) of World Liberty Financial, since late 2024, but in September last year, the company blocked the sale of his assets, causing him to miss out on an opportunity to make a profit of $276 million (approximately 408.3 billion won).

Sun Yuchen claimed that World Liberty Financial appeared to have frozen his WLFI assets after he refused their request to invest hundreds of millions of dollars in USD1 stablecoin, another virtual currency.

On the other hand, World Liberty Financial refuted these claims, stating that they were unfounded and that their actions were taken to protect the company and its users from his misconduct. The specific details of the alleged misconduct were not disclosed.

Sun Yuchen is considered a major investor who has invested large sums in Trump-related coins.

He recently also bought $100 million worth of '$TRUMP' memecoins (virtual currency utilizing internet trending content) released by another Trump-related cryptocurrency sponsor.

In the complaint, he stated that he is "still an avid supporter of President Trump and his family," but added that "the managers of World Liberty Financial are trying to profit through fraud using the Trump brand."