Trending Now - Trump's Crypto Firm Fights Back Against Billionaire's Lawsuit
WHO:
NewsBTC - Justin Sun, founder of Tron and largest holder of World Liberty Financial (WLFI) tokens.
NewsBTC - Eric Trump, co-founder of World Liberty Financial.
NewsBTC - Zack Witkoff, co-founder of World Liberty Financial.
Inc - A crypto entrepreneur (Justin Sun) involved in the lawsuit against WLFI.
WHAT:
NewsBTC - Justin Sun claimed in his lawsuit that "World Liberty is on the verge of collapse," raising concerns about whether the project has enough reserves to back its USD1 stablecoin.
NewsBTC - Sun stated that he received one billion WLFI tokens for advising the project.
NewsBTC - Eric Trump referred to Sun's lawsuit as "more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall," referencing Sun's purchase of banana artwork in late 2024.
NewsBTC - Eric Trump previously praised Justin Sun in June 2025, calling him "the biggest fan of Tron" and a "great friend and an icon in the crypto space."
NewsBTC - Justin Sun filed a lawsuit against World Liberty Financial on April 19th, 2026, alleging that WLFI illegally froze $320 million worth of his tokens.
NewsBTC - WLFI's token fell around 3% to a new all-time low of $0.0761 on April 21st, 2026.
NewsBTC - WLFI has seen a 16.5% correction in the weekly timeframe and a 26% correction in the monthly timeframe.
NewsBTC - Sun claimed he invested a total of $45 million to buy 3 billion WLFI tokens in 2024 and 2025.
NewsBTC - WLFI has fallen more than 75% since its all-time high of $0.33 on September 1st, 2025.
WHERE:
NewsBTC - The lawsuit was filed in the context of World Liberty Financial, which is backed by the Trump family.
WHEN:
NewsBTC - Justin Sun filed the lawsuit on April 19th, 2026.
NewsBTC - The price of WLFI reached its all-time high of $0.33 on September 1st, 2025.
NewsBTC - Sun's address was blacklisted on September 4th, 2025.
WHY:
NewsBTC - Sun alleges that WLFI's team froze his tokens and stripped him of his voting rights without justification, leading to the lawsuit.
NewsBTC - Sun claims that his relationship with WLFI soured after he declined to provide more investment and support to the project.
HOW:
NewsBTC - Zack Witkoff stated that Sun's claims are "entirely meritless" and that World Liberty Financial will take all necessary steps to protect its community.
NewsBTC - Sun claims WLFI used an embedded smart contract backlist function to freeze his tokens.
NewsBTC - Eric Trump and Zack Witkoff publicly dismissed Sun's lawsuit, with Witkoff stating that WLFI will take necessary steps to protect its community.
(UPDATED April 24, 2026 11:19 UTC)
Justin Sun has filed a lawsuit claiming that World Liberty is on the verge of collapse, raising concerns about the project's ability to support its one dollar stablecoin. In response, Eric Trump dismissed the lawsuit as "more ridiculous than this lawsuit is spending $6 million on a banana duct-taped to a wall," a nod to Sun's previous purchase of banana artwork. Zack Witkoff countered Sun's allegations, stating they are "entirely meritless" and assured that World Liberty Financial will take all necessary steps to protect its community.
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(UPDATED April 24, 2026 09:27 UTC)
Justin Sun, the founder of Tron and a major holder of World Liberty Financial tokens, filed a lawsuit against WLFI on Sunday, claiming that the company illegally froze $320 million worth of his tokens and stripped him of his voting rights. Following the lawsuit, WLFI's token dropped about 3% to a new all-time low of $0.0761 on Tuesday, marking a significant decline of over 75% since its peak of $0.33 in September 20th25. In response to the lawsuit, WLFI co-founders Eric Trump and Zack Witkoff dismissed the allegations, with Witkoff stating that the company would take necessary steps to protect its community.