PORTLAND, Oregon – Crypto billionaire Justin Sun and his companies sued World Liberty Financial, a crypto project co-founded by US President Donald Trump, accusing the company of extortion and an “illegal scheme” to seize his tokens.

In a complaint filed on April 21 in San Francisco federal court, Mr Sun also claimed that “World Liberty is on the verge of collapse” and questioned whether it holds enough reserves to back its USD1 stablecoin.

Mr Sun invested a total of US$45 million (S$57 million) to buy three billion of World Liberty’s WLFI tokens in 2024 and 2025, and was awarded another billion WLFI tokens for advising the project, according to the suit.

But he says his relationship with World Liberty’s team soured mid-2025,…