San Francisco, California - Billionaire Justin Sun is suing President Donald Trump and his family after their crypto platform World Liberty Financial allegedly cheated him out of millions.

According to the AFP, Sun filed the suit with a San Francisco federal court on Wednesday, accusing the platform of fraud and alleging he was blocked from withdrawing the more than $75 million worth of assets he had purchased since its launch.

Sun claims the assets were unilaterally frozen by the company, making him unable to resell, and that platform executives threatened to destroy his holdings if he attempted to take legal action.

He is now demanding the unfreezing of his assets as well as compensatory damages for the harm he has suffered.

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Trump and his two eldest sons – Don Jr. and Eric – launched WLF back in October 2024 alongside other entrepreneurs.

Sun initially invested millions into the project and bought $7 million of a memecoin Trump launched hours before his second inauguration. His loyalty made him a close ally of the president and earned him a position as an advisor to WLF executives.

The China-born billionaire, who is the founder of the crypto platform TRON, also made headlines in November 2024 after he spent over $6 million on an art piece featuring a banana duct-taped to a wall, and then quickly ate the fruit afterwards.

In an X post on Wednesday, Eric Trump said "the only thing more ridiculous" than Sun's lawsuit is the banana stunt and insisted the Trump family is "incredibly proud" of WLF.