According to Tron founder Justin Sun, he sued World Liberty Financial, which is backed by the Trump family, for reportedly threatening to burn his tokens and freezing them without providing any reason. Sun said in a Wednesday social media post that he was attempting to defend his token holder rights by filing the lawsuit in a federal court in California.
Sun added:
“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation. But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”
Ongoing Tussle
In a prior statement, Sun implied that WLFI’s new governance plan was not transparent due to the fact that 76% of the voting tokens originated from 10 wallets, and he threatened legal action earlier this month over the extended lockup periods for the governance token.
The WLFI project team called the assertions “baseless allegations” and made the statement on X at the time. “We have the contracts. We have the evidence. We have the truth. See you in court pal.”
Meanwhile, Sun attacked a WLFI governance plan on April 15 that would lock the tokens of founders, team members, and advisers for two years, release them progressively over the following three years, and finally burn 10% of the tokens when the proposal expires.
According to WLFI, holders who reject the revised timetable remain locked under the current conditions indefinitely. According to Sun, the proposal will be detrimental to the community if it is approved since token holders who do not explicitly agree to its conditions would have their tokens frozen eternally. These requirements include a mandate to permanently burn 10% of all advisor tokens. Sun said on X that his opinions on Trump and his government remain unchanged despite the litigation.
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