On May 5, 2026, World Liberty Financial (WLF), a cryptocurrency company co-founded by U.S. President Trump and his sons, filed a defamation lawsuit against Hong Kong cryptocurrency entrepreneur Justin Sun in a Florida court, escalating the dispute between the two parties. Previously, Sun had been a key supporter of the project, investing $45 million to purchase WLFI tokens in 2024 and 2025, and receiving an additional 1 billion tokens for providing advisory services. However, relations soured after he refused to provide further investment. Sun accused WLF of illegally freezing his tokens, revoking his governance voting rights, and threatening to destroy his assets, resulting in hundreds of millions of dollars in losses. WLF countered by suing Sun for waging a 'public smear campaign,' alleging improper token transfers and short selling intended to depress the token's market price. Sun denied the accusations and expressed confidence in prevailing in court.