Justin Sun Says Trump's ‘Proudly American' Crypto Firm Claimed UAE Roots to Exit US Court
Tron founder Justin Sun has asked a US federal court to sanction the Trump family's World Liberty Financial, alleging the firm concealed its United Arab Emirates ownership to escape his $45 million fraud case.
The case centers on whether Sun can recover his frozen WLFI tokens, which grant holders voting rights in the project, and tests the company's ability to lock any holder's coins. Sun's wallet contained approximately 2.9 billion WLFI when he sued in April, valued at around $150 million at today's price of $0.05111.
Ownership Shift
World Liberty's initial court filing listed only itself as a Florida company. However, less than a week after an August hearing that went against the firm, it suddenly listed 22 owners across Florida, Delaware, Puerto Rico, and the UAE.
World Liberty was proudly American when it was selling tokens. It discovered its UAE roots only when it needed a way out of an American federal courtroom.
UAE Connections
The Wall Street Journal reported earlier this year that Aryam Investment purchased 49% of World Liberty for about $500 million. Aryam is reportedly backed by Sheikh Tahnoon bin Zayed Al Nahyan. In June, five Senate Democrats demanded hearings into the UAE stake.
Next Steps
World Liberty has called the token freeze a routine security measure and countersued Sun for defamation in Florida. Once the judge rules on sanctions, Sun plans to refile in California state court, delaying any ruling on whether the freeze was lawful.
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