The Trump household’s crypto operation has blacklisted one in all its greatest supporters. On Friday, billionaire Justin Sun—who till just lately had been tight with the Trumps—posted on X that Trump-backed World Liberty Financial had frozen greater than $100 million in cryptocurrency he had bought from the venture. “As one of many early buyers, I joined along with everybody—we purchased in the identical means, and all of us deserve the identical rights,” he said.
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Sun is a controversial crypto tycoon who’s reportedly price greater than $12 billion and was a distinguished visitor at a dinner President Donald Trump hosted in Might to reward the most important consumers of his memecoin. Now, Sun seems to have incurred the wrath of the president’s allies after shifting a portion of his place in a distinct Trump-linked cryptocurrency.
In accordance to blockchain data from Arkham Intelligence, Sun transferred $9 million price of the token WLFI on Thursday. The transfer adopted a 40% decline within the cryptocurrency’s worth to round 19 cents because it grew to become tradable on Monday, in accordance to knowledge from Binance. World Liberty Financial seems to have responded to Sun’s choice to switch the tokens by freezing his pockets, in accordance to blockchain data.
To the World Liberty Financials crew and the worldwide group,
As one of many early main buyers in World Liberty Financials, I’ve contributed not solely capital but in addition my belief and help for the way forward for this venture. My aim has all the time been to develop alongside the crew…— H.E. Justin Sun 👨🚀 (Astronaut Model) (@justinsuntron) September 5, 2025
Whereas acknowledging that he had transferred among the tokens, Sun pleaded that he wasn’t liable for the value drop. He even offered to purchase $10 million price in inventory of a Trump-link public firm and one other $10 million in WLFI. “No shopping for or promoting was concerned, so it couldn’t presumably have any influence available on the market,” he said on X, in a submit translated from Chinese language. “I’m harmless.”
A spokesperson for World Liberty Financial didn’t instantly reply to a request for remark. Spokespeople for Sun didn’t reply to a request asking for additional remark.
“We don’t search to blacklist anybody,” the social media account for World Liberty Financial posted early Friday night. “We reply when alerted to malicious or high-risk exercise that might hurt group members.”
Sun vs. World Liberty
World Liberty Financial’s choice to freeze Sun’s cryptocurrency doubtlessly alienates one of many Trump crypto venture’s greatest—and richest—allies.
The venture, launched in October, counts President Donald Trump and his sons Eric, Barron, and Donald Trump Jr. as cofounders. World Liberty Financial goals to create an software for decentralized finance, a crypto time period that refers to placing conventional banking companies like lending and borrowing on the blockchain.
In January, simply earlier than President Donald Trump’s inauguration, Sun, founding father of the blockchain Tron, announced that he had bought $75 million in whole of World Liberty Financial’s cryptocurrency.
“For my part, if I’ve made any cash in cryptocurrency, all credit score goes to President Trump @realDonaldTrump,” Sun wrote.
For my part, if I’ve made any cash in cryptocurrency, all credit score goes to President Trump @realDonaldTrump. Each Trump Coin and World Liberty Financial are certain to carry out exceptionally effectively.— H.E. Justin Sun 👨🚀 (Astronaut Model) (@justinsuntron) January 22, 2025
The Chinese language crypto tycoon then grew to become one of many largest holders of Trump’s memecoin.
Critics pointed to Sun’s public reward of the forty seventh president and the tens of tens of millions he lavished on Trump crypto tasks as a type of influence peddling, particularly because the Securities and Change Fee has an ongoing lawsuit towards the billionaire, wherein it alleges Sun violated securities regulation.
Sun has denied any wrongdoing. In February, the SEC and Sun’s legal professionals notified the decide overseeing the case that the 2 events have been exploring a possible decision of the lawsuit.
Replace, Sept. 5, 2025: Added in a press release from World Liberty Financial’s social media account.
