World Liberty Financial sues Justin Sun for defamation in Miami
Crypto billionaire Justin Sun is in hot water after World Liberty Financial sued him for defamation, saying he tried to tank its reputation while alleging he was betting against its WLFI token as part of a short-and-distort scheme.
The lawsuit, filed May 4 in Miami, follows Sun's own fraud suit against the company, where he claimed it froze his assets because he wouldn't invest more in its $1 stablecoin.
World Liberty alleges Sun harmed WLFI
World Liberty accuses Sun of breaking investment agreements (like moving tokens to Binance and betting against WLFI) then turning around and publicly calling out the company for having "a backdoor blacklisting function in the smart contract" and "a trap door marketed as an open door."
The company says his posts (seen by millions) hurt its business and cost it a partnership.
Meanwhile, Sun alleges World Liberty froze his holdings in retaliation after he refused to invest more in $1.
The legal battle is definitely heating up.