Tron (CRYPTO: TRX) founder Justin Sun said on Tuesday he has sued the Trump family-backed World Liberty Financial cryptocurrency platform to defend his “legal rights” as a WLFI token holder.
Crypto Billionaire Sues
Sun filed a lawsuit in a California federal court, claiming he was left with “no choice.”
“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation. But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder,” the cryptocurrency billionaire said.
Sun alleged that the team even “threatened” to destroy his tokens by burning them.
Sun Invokes Trump’s Values
Sun stated that the actions of World Liberty Financial contradict President Donald Trump‘s values.
“I do not believe President Trump would condone these actions if he knew about them,” he said, reiterating that he continues to be an ardent supporter of Trump.
World Liberty Financial didn’t immediately return Benzinga’s request for comment.
Crypto Braces For Infighting
This lawsuit marked the latest escalation in a feud between two influential groups in the cryptocurrency world.
Sun, a leading investor and advisor at World Liberty Financial, has accused the firm of having a governance structure that is “hollowed from the inside,” with only one person having the “unilateral power to freeze any token holder’s assets.”
He has also blasted the firm’s latest governance proposal, describing it as “tyranny” and a ploy for “power consolidation.”
Sun’s wallet was blacklisted last year following a transfer of WLFI worth more than $9 million to an unknown address. As of this writing, he holds 544.71 million WLFI, worth $43.59 million, according to Arkham Intelligence.
World Liberty Financial had dismissed the allegations as “baseless” and threatened legal action. Trump’s sons, Eric Trump and Donald Trump Jr., who serve as co-founders, have yet to comment on the issue.
Price Action: At the time of writing, WLFI was trading at $0.07925, up 0.92% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Shutterstock/ ESB Professional
Recent Comments