World Liberty Takes Justin Sun to Court Over Alleged Defamation

A cryptocurrency firm linked to the family of former US President Donald Trump, World Liberty Financial, has initiated a defamation lawsuit against Justin Sun, the founder of Tron, in a Florida court. The lawsuit alleges that Sun exhibited 'gross misconduct' regarding his purchase of WLFI tokens. This move comes after Sun filed a lawsuit against World Liberty in a California federal court, accusing the company of unfairly restricting his ability to transfer his WLFI tokens. World Liberty claims that entities connected to Sun purchased WLFI tokens on behalf of other investors through straw purchases and possibly engaged in short-selling the token. The company froze Sun's tokens to 'protect itself and the broader community,' stating that his tweets about the frozen tokens contained false or defamatory information. It is alleged that Sun hired influencers and used bots to spread false information, resulting in lost business opportunities for World Liberty. Significant portions of the lawsuit have been redacted, including details about Sun's token purchase and alleged misconduct. The alleged misconduct includes a 'large, deliberate, short-selling campaign' aimed at suppressing the price of WLFI at its public launch, which is linked to the transfer of $300 million to Binance by Sun-affiliated wallets. World Liberty claims it froze Sun's tokens in accordance with its contractual rights to prevent further harm, a power Sun was aware of beforehand. The lawsuit seeks damages, expenses, and a retraction of Sun's statements, alleging defamation.