Key Takeaways:
WLF sued Justin Solar in Miami on Could 4, 2026, over claims he defamed the Trump-backed crypto enterprise. The WLFI token confronted volatility and lows as Solar allegedly moved $300 million to Binance to brief the coin. Future court docket dates will deal with Solar’s April declare that WLF illegally froze $75 million of his holdings.
Allegations of Market Manipulation
The Trump family-affiliated World Liberty Monetary filed a defamation lawsuit Monday, Could 4, towards Tron blockchain founder Justin Solar, alleging he engaged in a deliberate marketing campaign to unfold false details about the corporate.
The lawsuit, filed within the Eleventh Judicial Circuit Courtroom for Miami-Dade County, claims that Solar revealed defamatory statements to his hundreds of thousands of followers on X. The authorized motion marks a big escalation in a public feud between the Trump-backed enterprise and Solar.
In a press release asserting the lawsuit, World Liberty Monetary alleges that Solar engaged in prohibited token transfers, “straw” purchases by third events, and brief promoting of the corporate’s WLFI token. The criticism additional asserts that Solar was totally conscious of the protocol’s proper to freeze person tokens to guard the neighborhood and cling to governing agreements.
“Relatively than performing in good religion, Justin Solar selected to defame World Liberty — repeatedly, publicly, and to hundreds of thousands of followers,” Tom Clare, an lawyer for World Liberty Monetary, mentioned in a press release. “World Liberty filed this lawsuit as a final resort to appropriate the file and to guard its token holders, its staff, and all its stakeholders.”
The Florida lawsuit follows a separate authorized motion filed by Solar in April in a San Francisco federal court docket. In that case, Solar accused World Liberty Monetary of illegally freezing roughly $75 million of his WLFI holdings and stripping him of governance rights.
World Liberty Monetary’s submitting counters these claims, alleging Solar’s trade wallets moved $300 million to Binance simply earlier than WLFI opened for public buying and selling, which the corporate suggests was a part of a broader effort to undermine the platform whereas benefiting his personal monetary positions.
The authorized battle comes amid heightened scrutiny of the enterprise. Latest experiences point out the challenge quietly bought an extra 5.9 billion tokens to non-public accredited buyers whereas many early retail backers stay unable to commerce nearly all of their holdings resulting from lock-up restrictions.
In a terse response to the World Liberty Monetary go well with, Solar dismissed it as “a baseless PR stunt,” including that he has a transparent conscience and is assured of prevailing in court docket.
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