The Trump family’s crypto operation has blacklisted one of its biggest supporters. On Friday, billionaire Justin Sun—who until recently had been tight with the Trumps—posted on X that Trump-backed World Liberty Financial had frozen more than $100 million in cryptocurrency he had purchased from the project. “As one of the early investors, I joined together with everyone—we bought in the same way, and we all deserve the same rights,” he said.
Sun is a controversial crypto tycoon who is reportedly worth more than $12 billion and was a prominent guest at a dinner President Donald Trump hosted in May to reward the biggest buyers of his memecoin. Now, Sun appears to have incurred the wrath of the president’s allies after moving a portion of his position in a different Trump-linked cryptocurrency.
According to blockchain data from Arkham Intelligence, Sun transferred $9 million worth of the token WLFI on Thursday. The move followed a 40% decline in the cryptocurrency’s price to around 19 cents since it became tradable on Monday, according to data from Binance. World Liberty Financial appears to have responded to Sun’s decision to transfer the tokens by freezing his wallet, according to blockchain data.
To the World Liberty Financials team and the global community,
As one of the early major investors in World Liberty Financials, I have contributed not only capital but also my trust and support for the future of this project. My goal has always been to grow alongside the team…— H.E. Justin Sun 👨🚀 (Astronaut Version) (@justinsuntron) September 5, 2025
While acknowledging that he had transferred some of the tokens, Sun pleaded that he wasn’t responsible for the price drop. He even offered to buy $10 million worth in stock of a Trump-link public company and another $10 million in WLFI. “No buying or selling was involved, so it could not possibly have any impact on the market,” he said on X, in a post translated from Chinese. “I am innocent.”
A spokesperson for World Liberty Financial did not immediately respond to a request for comment. Spokespeople for Sun did not respond to a request asking for further comment.
“We do not seek to blacklist anyone,” the social media account for World Liberty Financial posted early Friday evening. “We respond when alerted to malicious or high-risk activity that could harm community members.”
Sun vs. World Liberty
World Liberty Financial’s decision to freeze Sun’s cryptocurrency potentially alienates one of the Trump crypto project’s biggest—and richest—allies.
The project, launched in October, counts President Donald Trump and his sons Eric, Barron, and Donald Trump Jr. as cofounders. World Liberty Financial aims to create an application for decentralized finance, a crypto term that refers to putting traditional banking services like lending and borrowing on the blockchain.
In January, just before President Donald Trump’s inauguration, Sun, founder of the blockchain Tron, announced that he had purchased $75 million in total of World Liberty Financial’s cryptocurrency.
“In my view, if I have made any money in cryptocurrency, all credit goes to President Trump @realDonaldTrump,” Sun wrote.
In my view, if I have made any money in cryptocurrency, all credit goes to President Trump @realDonaldTrump. Both Trump Coin and World Liberty Financial are bound to perform exceptionally well.— H.E. Justin Sun 👨🚀 (Astronaut Version) (@justinsuntron) January 22, 2025
The Chinese crypto tycoon then became one of the largest holders of Trump’s memecoin.
Critics pointed to Sun’s public praise of the 47th president and the tens of millions he lavished on Trump crypto projects as a form of influence peddling, especially since the Securities and Exchange Commission has an ongoing lawsuit against the billionaire, in which it alleges Sun violated securities law.
Sun has denied any wrongdoing. In February, the SEC and Sun’s lawyers notified the judge overseeing the case that the two parties were exploring a potential resolution of the lawsuit.
Update, Sept. 5, 2025: Added in a statement from World Liberty Financial’s social media account.