Crypto entrepreneur Justin Sun launched a public attack against the Trump family’s World Liberty Financial over the weekend, accusing the firm of using the crypto community as a "personal ATM."
The dispute erupted as the native WLFI token plummeted to an all-time low, trading just below $0.08. The token has lost over 76% of its value since becoming tradable last autumn.
Sun, the founder of the Tron blockchain, is the single largest holder of WLFI tokens. He purchased tens of millions of dollars worth of the asset following President Donald Trump’s 2024 re-election.
On Sunday, Sun claimed via X that World Liberty Financial embedded a secret backdoor in its smart contract. He alleged this mechanism allows the company to freeze any holder’s tokens "without notice, without cause, and without recourse."
Legal threats escalate
The conflict follows a September incident where World Liberty blacklisted Sun’s wallet and froze his tokens. The company took action after Sun appeared to move millions of dollars worth of WLFI, an action that may have violated investment terms.
Sun labeled the leaders of the Trump-backed firm, including members of the Trump family, as "bad actors." He demanded that World Liberty unlock all previously frozen tokens and disclose who controls the company’s smart contracts.
World Liberty Financial responded with a sharp rebuttal, dismissing Sun's claims as baseless. "Justin’s favorite move is playing the victim while making baseless allegations to cover up his own misconduct," the company said in a statement. The firm also issued a direct threat, stating, "See you in court pal."
The feud highlights the volatile relationship between Sun and the Trump administration. After Sun purchased millions in dollars worth of Trump's official meme coin, the Trump-led SEC settled a long-standing fraud case against the entrepreneur in March.
Political analysts suggest the dispute could face renewed scrutiny in Washington. If Democrats retake Congress in November, the operations of World Liberty Financial may face intense legislative investigation.
