For a little while, crypto mogul Justin Sun represented everything the digital currency industry could want from Donald Trump. But Blockchain Camelot is over, and the dueling lawsuits are here.

Sun, a Chinese-born crypto-billionaire known for his antics—he is the guy who paid $6.2 million for a banana duct-taped to a wall at Art Basel—was already facing a slew of civil fraud allegations leveled by the Biden-era SEC when he entered the Trumps’ orbit. Shortly after the 2024 election, Sun made a huge investment in digital tokens issue by World Liberty Financial, the newly launched crypto firm run by the Trump family and their allies.

Sun tweeted loudly about his, and the crypto industry’s, love for Donald Trump, and when the new administration came to power, his regulatory and legal troubles eased. The SEC agreed to put its lawsuit against him on hold; he recently settled the case for the relatively low sum of $10 million. Sun and Trump, it seemed, embodied a new political and economic order.

But it didn’t last.

Today, we are filing a lawsuit against Justin Sun for defamation. Sun has launched a coordinated media smear campaign against World........

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