Crypto Billionaire Sues Trump-Linked Project Alleging Extortion

Crypto billionaire Justin Sun and his companies sued World Liberty Financial, a crypto project co-founded by President Donald Trump, accusing the company of extortion and an “illegal scheme” to seize his tokens.

In a complaint filed Tuesday in San Francisco federal court, Sun also claimed that “World Liberty is on the verge of collapse” and questioned whether it holds enough reserves to back its USD1 stablecoin.