Trump’s World Liberty Financial countersues crypto billionaire Justin Sun for defamation in response to allegations of fraud

One of the Trump family’s biggest early crypto backers is now a foe. In response to claims of fraud by billionaire Justin Sun, the Trump-backed crypto firm World Liberty Financial filed a countersuit for defamation on Monday in Florida State court, claiming its former ally engaged in “a scorched-earth pressure campaign” against the crypto project as Sun pushed World Liberty Financial to release hundreds of millions of cryptocurrency he owned.

Sun is a crypto entrepreneur reportedly worth around $11 billion, and he’s funneled nearly $200 million into the Trump family’s digital assets projects. That includes the $75 million Sun spent on a cryptocurrency issued by World Liberty Financial and another $100 million on acquiring a store of President Donald Trump’s $TRUMP memecoin. The crypto mogul also attended a dinner Trump spoke at that was exclusively for top memecoin holders.

But Sun’s love affair with the Trumps turned into a bitter breakup in September after World Liberty Financial froze Sun’s tokens, preventing him from selling his tranche, which is now worth around........

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