Justin Sun Sues World Liberty Financial Over Frozen Tokens

Justin Sun, the founder of the TRON cryptocurrency project, has filed a lawsuit against World Liberty Financial, a company co-founded by Donald Trump's family. According to the complaint, World Liberty froze all of Sun's tokens and denied him voting rights on management issues. This move is seen as an attempt by the company to exert control over its token holders.

Sun claims that World Liberty implemented an 'illegal scheme' to confiscate his issued WLFI tokens, which he had invested $45 million in. The value of these tokens has since fallen from 31 cents to less than 8 cents. Sun also accuses the company's managers of using Trump's trademark for enrichment through fraud.

The lawsuit comes as the US Securities and Exchange Commission (SEC) recently closed its investigation into Sun's activities, sparking speculation about the motives behind this decision. The SEC had been looking into allegations that Sun paid influencers to promote his companies on social media without disclosing these payments.