Billionaire Investor Sues Trump Family’s Crypto Project for ‘Extortion’

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NEW YORK, NEW YORK - AUGUST 13: Eric Trump (center), the newly appointed ALT5 Board Director of World Liberty Financial, is joined by his brother and ALT5 Board Observer Donald Trump Jr. (left), and Zach Witkoff, Co-Founder and CEO of World Liberty Financial to mark the $1.5B partnership between World Liberty Financial (WLFI) and ALT5 Sigma with the ringing of the NASDAQ opening bell on August 13, 2025 in New York City.</p><p>The deal, in which ALT5 Sigma acquired 7.5 percent of the total WLFI token supply, marks a step in merging traditional finance with digital assets. (Photo by Spencer Platt/Getty Images)https://thedailybeast-thedailybeast-prod.web.arc-cdn.net/resizer/v2/AWIAXOOSUFBI7AXHZRZMLCCXEY.jpg?auth=b7fb661076ca6bb14022eb15893ef3ed58600b4ac97203165f651b86c1d53140&smart=true&width=3878&height=2181" />
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Crypto billionaire Justin Sun has sued the Trump family’s World Liberty Financial, accusing the project of “criminal extortion.”

The case, brought in a California federal court, alleges that WLFI froze Sun’s digital tokens and blocked him from cashing out a $30 million early bet that he claims could have netted him $276 million.

Sun, who became the project’s first major investor shortly after President Donald Trump’s re-election in 2024, said he remains “an ardent supporter of President Trump and the Trump family” but insisted the suit was necessary.

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Justin Sun Sues Trump Crypto Firm