Tag: justin sun
Justin Sun

Billionaire Says Trump 'Threatened' Him For Disclosing Fraud In World Liberty Crypto

An eccentric billionaire is accusing President Donald Trump of fraud relating to his family's biggest recent grift scheme, and in an interview with New York magazine, further accused the president of "threatening" him to keep quiet.

Intelligencer called Chinese billionaire Justin Sun "one of the richest people in the world, having made his fortune in the no-rules early phase of the crypto industry" in its Monday profile, further detailing how he invested $30 million in the Trump family's crypto firm World Liberty Financial and joined it as an advisor in late 2024. The firm has emerged as the epicenter of the Trump family's cryptocurrency dealings, and, in the wake of numerous shady deals, is now considered its biggest overall financial venture.

As he moved forward with World Liberty Financial, however, Sun came to see the investment as a "colossal mistake," as the firm's promised products never materialized and its various tokens crashed in value, costing investors massive sums of money. In April of this year, he sued the company, "alleging fraud and breach of contract.""Today, the thing I regret the most is not only that my money got stuck but that my name is on the project,” Sun told the outlet. “I believe many other people also got harmed... I never expected this to happen to me. This is the worst-case scenario."

He added further: “I thought surely these people would not do what they did with such a public profile attached. Looking back, I was wrong about that. Unfortunately, as alleged in the complaint, certain operators leveraged the Trump brand to profit through fraud.”

Sun's suit against World Liberty notably does not name either Trump or his sons, Donald Trump Jr. and Eric Trump, and he claims to remain an "ardent supporter" of the president. He insisted to one source who spoke with the Intelligencer that the suit is not a "political issue," and accused the company of acting "like young punk criminals" and giving the crypto a industry a bad name.

The company, meanwhile, did not sit back in response to Sun's suit.

"On May 4, a couple of weeks after Sun filed his suit, World Liberty sued him for defamation," the report detailed. "Represented by the law firm Clare Locke, which successfully sued Fox News over its 'big lie' coverage following the 2020 election, World Liberty tells a different version of events. Though sections of its accusations are redacted, World Liberty claims in the suit that it froze Sun’s coins to 'protect' itself and its investors from prohibited conduct by Sun. Just before the $WLFI tokens started trading, the company alleges, Sun placed a large bet against them, transferring $300 million 'to fund an aggressive short position.' It also claims Sun made 'straw purchases' on behalf of other investors. Notably, though, World Liberty did not sue Sun for breach of contract or fraud."

Sun dismissed this suit as an effort to silence him.

“I believe that World Liberty is trying to threaten me into silence, but that will not work,” he said. “I stand by the decision to speak out about conduct that I believe was improper and harmful to token holders... I believe the evidence will prove our allegations to be true.”

Trump Family Wins Big Again In Crypto, While Their Investors Lose Even Bigger

Trump Family Wins Big Again In Crypto, While Their Investors Lose Even Bigger

The Trump family cashed in big on a $500 million crypto deal, but their investors didn’t get so lucky.

In August 2025, Donald Trump Jr. and younger brother Eric inked a deal with Alt5 Sigma and celebrated at the Nasdaq stock exchange in New York City.

But less than 10 months later, the business that brought the first family a huge windfall is now facing closure.

With stock prices plummeting, Alt5 Sigma—now renamed AI Financial Corp.—is facing being delisted from the Nasdaq. But because of its prior purchase of $1.5 billion in crypto tokens from the Trump brothers’ trading platform World Liberty Financial, the family cashed in—despite the failure that quickly ensued for the financial technology company.

The suspicious nature of the deal prompted attorneys for Democracy Defenders Fund to urge the Securities and Exchange Commission to launch an investigation.

Attorneys warn that Alt5 Sigma had participated in “steering investor funds to entities co-owned by President Trump and his associates.”

The SEC has not launched an investigation or acknowledged the letter from the nonpartisan organization.

The Trump brothers have been heavily involved in the crypto community, building out the family empire as their father President Donald Trump slashed regulations around the highly volatile market.

Through World Liberty Financial, the Trumps have a stake in former UFC champion Conor McGregor’s business, MMA Inc., and the two brothers have made splashy appearances at a number of international crypto events.

According to CNBC, Eric boasted at a Hong Kong-based crypto conference last August that 90 percent of his time is now spent with the crypto community.

But when you look at how much the Trump family has won while those playing the crypto game have lost, the difference is stark.

When the family launched its $TRUMP meme coins, fans and investors alike jumped on the opportunity. In turn, the Trumps sat on a meme-coded pile of money that amounted to hundreds of millions of dollars.

Soon after, however, those who bought in on the investment began losing.

The Trumps have used crypto as a means to amass more wealth with little investment of their own, a Reuters investigation concluded.

According to the outlet, the president and his sons have added at least $2.3 billion to their family fortune, mainly through crypto. However, investors have taken a $2.3 billion hit.

“Under the Trump crypto playbook, the family always wins. Investors don’t,” the report concluded.

Two other ventures, like World Liberty Financial and an investment in American Bitcoin, have also resulted in pain for investors while the family raked in the profit.

Crypto platform WLF has even sparked a lawsuit for its alleged extortion of a billionaire backer.

Justin Sun, a crypto mogul who initially supported the Trump family’s efforts, sued World Family Financial after allegedly being pressured into buying more coins.

The crypto con adds to a growing list that includes Trump-branded cell phones, perfumes, sneakers, Bibles, social media apps, fin tech, and many other money grabs that have the president’s seal of approval.

Reprinted with permission from Daily Kos

Trump crypto

Lame Duck Trump Isn't Fretting Over Polls -- He's Too Busy Cashing Out

Donald Trump's approval numbers continue to crater. Even Republicans have cooled on the president's performance. But the president shows no sign of noticing, nor is he changing his ways. Even his gaslighting has gone wan. He's failed to make Americans believe that prices are going down when they're clearly not.

What gives? Why isn't he trying to win back the public's love? Perhaps because he no longer cares. The only infrastructure he seems interested in building is his family fortune.

Trump charmed farmers into supporting him twice. He's bankrupting them with his trade-war antics. Many farmers have finally turned on him, but so what? Trump's not running again. He no longer needs their affection or their votes.

This ability to seduce then abandon goes way back. In 1995, Trump was a near-broke developer whose Atlantic City casinos were going under. He needed suckers to bail him out and found them through an initial public offering of Trump Hotels & Casino Resorts stock. Rubes buying into his spinner-of-gold act poured $140 million into his empty coffers. In 2004, burdened by debt and never turning a profit, Trump Hotels & Casino Resorts filed for bankruptcy. For every $10 that his marks invested at that stock sale, they had $1 left.

"People don't understand this company" was his explanation.

The presidency offered new and powerful tools to get people to hand over their money. Days after returning to office, Trump's regulators dropped the fraud case against crypto entrepreneur Justin Sun. The Chinese-born speculator, target of an FBI investigation, fixed his problem by "investing" more than $40 million on $TRUMP coins — a crypto meme coin with no fundamental value.

Last month, Trump pardoned Changpeng Zhao. The Chinese-born Canadian had spent four months in prison for failing to prevent his crypto exchange, Binance, from laundering money. Zhao made his woes go away by having Binance facilitate a $2 billion purchase of World Liberty Financial stablecoin. World Liberty was founded by Trump's sons, Eric and Donald Jr.

Asked about the pardon of Zhao, Trump said, "I don't know who he is."

By June, Trump and family had already taken in about $1 billion in crypto ventures alone, according to Forbes' calculations. That included profits from $100 million of World Liberty cryptocurrency tokens that a murky entity based in the United Arab Emirates said it was buying.

You enrich me and I'll get you off whatever hook you're hanging from. How better to embolden financial lawbreakers than a president saying, in effect, I've got your back — for a fee?

Being blatant about corruption is part of the mob boss' business model. Trump is telling those needing government favors that he's not shy about granting them, appearances be damned. Not only does he hand out pardons without blushing, he's been firing the regulators whose job it was to police wrongdoing.

Trump's agenda for a second term appears to be not giving a damn. He doesn't even care about the Republican Party, which just felt the sting of an unhappy electorate. Trump probably figures that Democrats will soon take control of at least the House in the midterms, so he might as well use the months left with a servile Republican Congress to increase his fortune.

He could also turn attention freed from the nation's concerns to immortalizing himself. Start by leveling an entire wing of the White House for a banquet hall that administration officials are already calling "The President Donald J. Trump Ballroom."

Asked about the naming, Trump said, "I won't get into that now."

It hardly needs mentioning that rich donors needing inside deals are paying for the ballroom.

Trump does care about numbers, but his job approval doesn't seem to be among them.

Froma Harrop is an award winning journalist who covers politics, economics and culture. She has worked on the Reuters business desk, edited economics reports for The New York Times News Service and served on the Providence Journal editorial board.

Reprinted with permission from Creators.


Trump Family Wants A Piece Of Shady Binance Crypto Grift

Trump Family Wants A Piece Of Shady Binance Crypto Grift

Trump family representatives have been in discussions to take a financial stake in the U.S. arm of crypto exchange Binance, whose founder served four months in prison for money laundering.

Binance, along with former CEO Changpeng Zhao, pleaded guilty to charges of money laundering, unlicensed money transmitting, and sanctions violations in 2023.

A deal with the Trump family would allow the previously banned company to return to the United States.

Billionaire New York real estate developer and Trump’s Middle East envoy Steve Witkoff has reportedly been involved in the talks with Binance.

This is just the latest example of President Donald Trump’s willingness to align himself with the shady—and often illegal—crypto world. Trump’s billionaires club is filled with tech bros who have both made and been floated by considerable amounts of money in the crypto space.

Trump has seen how much more lucrative a grift of the barely policed crypto world is in comparison to previous ventures, like selling shiny gold sneakers.

Trump launched his own meme coin $TRUMP shortly after inauguration in a clear money grab, pulling in millions while exploiting hundreds of thousands of suckers. But more importantly it was a naked pay-to-play scam, allowing foreign agents and fellow grifters to curry favor with the president—like Tron founder Justin Sun, who was facing a civil fraud case started under the Biden administration.

After Sun “invested” tens of millions into Trump’s meme coin, he was rewarded by the U.S. Securities and Exchange Commission cutting a deal and dropping the case.

As the Trump family continues talks with Binance, the potential investment—and whether or not it would include one of Trump’s patented pardons—remains to be seen.

Reprinted with permission from Daily Kos

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