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 US President Donald Trump.

According to the US daily Wall Street Journal (WSJ) on the 22nd (local time), Sun Yuchen (Justin Sun), the founder of the cryptocurrency TRON, filed a complaint in a California federal court the previous day, alleging criminal racketeering 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, World Liberty Financial's token (blockchain-based virtual currency), 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 KRW).

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

On the other hand, World Liberty Financial refuted these claims as groundless, stating that their actions were measures to protect the company and its users from his misconduct. They did not elaborate on the specific nature of the misconduct.

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

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

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