A cryptocurrency mogul who has invested tens of millions of dollars in varied enterprises tied to President Donald Trump and his family filed go well with towards the Trump family’s flagship crypto venture late Tuesday for, amongst different claims, alleged breach of contract and fraud — a significant escalation of a feud that erupted on social media earlier this month.
Justin Solar, a Chinese language-born billionaire who has cultivated deep ties to the Trumps, filed the lawsuit late Tuesday in a California federal courtroom, accusing World Liberty Monetary of freezing his funding within the agency’s digital tokens in a bid to “ratchet up stress” on Solar to advertise one other one of many firm’s choices.
Solar “has lengthy been (and stays) an ardent supporter of President Trump and the Trump family” and has invested roughly $45 million in World Liberty Monetary at the very least partially “due to the Trump family’s affiliation with the venture,” Solar’s legal professionals wrote.
Chinese entrepreneur sued for fraud invests $30 million in Trump crypto venture
However Solar’s lawsuit accused different World Liberty “operators” of “partaking in an unlawful scheme to grab property … [causing] Mr. Solar and his corporations to incur tons of of thousands and thousands of {dollars} in damages,” his legal professionals wrote.
A World Liberty Monetary spokesperson directed ABC Information to posts on X from Eric Trump, who known as the go well with “ridiculous,” and World Liberty co-founder Zach Witkoff called the claims within the go well with “fully meritless.”
“World Liberty seems to be ahead to getting the case thrown out promptly,” Witkoff wrote.
Eric Trump, the son of President Trump, and Witkoff, the son of the president’s particular envoy Steve Witkoff, helped launch World Liberty Monetary in 2024, shortly earlier than Trump’s election.
Tyrone Siu/Reuters, FILE – PHOTO: On this April 3, 2025, file photograph, Justin Solar, founding father of Tron, speaks throughout an press convention in Hong Kong.
Solar gained notoriety partially for his buy of a $6 million banana artwork piece — an precise piece of fruit duct-taped to a wall — and has since invested in each World Liberty Monetary and the president’s meme coin, known as $TRUMP. He attended a gala final 12 months for the highest buyers within the meme coin and at present sits atop the leaderboard for a luncheon scheduled for this weekend at Trump’s Mar-a-Lago property.
Earlier this 12 months, Solar agreed to pay $10 million to resolve a civil fraud case introduced by the Biden-era Securities and Trade Fee.
In his lawsuit filed Tuesday, Solar accused executives at World Liberty Monetary — excluding members of the Trump family — of utilizing the agency “as a golden alternative to leverage the Trump model to revenue by way of fraud.”
He accused the agency of seizing his cash as leverage to steer Solar to advertise World Liberty Monetary’s stablecoin, known as USD1, and “mint” it on his personal platform, known as TRON — a method he known as “a stress tactic that itself qualifies as legal extortion.”
Solar first raised these issues on social media earlier this month. World Liberty Monetary on the time denied the allegations and added in a submit on X, “See you in courtroom pal.”
