World Liberty Financial, a Florida-based decentralized finance company backed by the Trump sons, has filed a defamation suit against crypto billionaire Justin Sun, alleging that Sun was betting against the very token he was publicly hyping as "one of the biggest projects in crypto". The suit was filed in Miami-Dade County state court after Sun sued them for fraud in California federal court. Sun alleges that World Liberty pressured him to invest more into its stablecoin, the company’s main product. When Sun refused, World Liberty froze his holdings in retaliation. The complaint alleges that Sun orchestrated a smear campaign against World Liberty after they froze his assets. The company is seeking compensatory and punitive damages, as well as a court order forcing Sun to retract all posts publicly praised and retract them.