Tron founder Justin Sun has said he is pursuing legal action against Trump-family-backed World Liberty Financial, alleging that the project froze his tokens and threatened to burn them without proper justification. Sun said the case was filed in a California federal court and is intended to defend his rights as a token holder.
In comments posted on social media on Wednesday, Sun said he had tried to settle the dispute privately before turning to litigation. He said repeated requests to have his tokens unfrozen and his token-holder rights restored were rejected, leaving court action as the only remaining option.
Sun is the largest individual investor in World Liberty Financial, a crypto project closely associated with the Trump family. The dispute adds fresh pressure to a project that has already faced criticism over token distribution and governance practices.
Earlier this month, Sun threatened legal action over what he described as extended lockup terms for WLFI, the project’s governance token. He also questioned the transparency of a recent governance proposal, arguing that a large share of the voting power appeared concentrated in a small number of wallets. According to his claims, more than 76% of the voting tokens came from 10 wallets.
World Liberty Financial rejected those allegations at the time, calling them baseless and insisting it had the necessary records to support its position. The project’s response suggested it was prepared to defend its actions in court.
Sun later said the dispute did not alter his view of President Donald Trump or his administration. He added that some people involved in the project were acting in ways that did not reflect Trump’s stated values.Asian equities traded in mixed fashion on Wednesday as investors assessed the outlook for US-Iran relations and the risk of broader disruptions to energy supplies. Sentiment remained cautious after President Donald Trump extended the ceasefire, even as diplomatic progress remained unclear and the second round of talks had already broken down.
The latest developments added to market uncertainty across the region. US Vice President JD Vance canceled a planned visit to Islamabad after Tehran declined to engage through Pakistan, while Iran’s military warned of retaliation against preselected targets amid escalating rhetoric from Washington. The US blockade on Iranian vessels also remained in place, reinforcing concerns over maritime trade and regional stability.
Japan’s nikkei 225 rose more than 0.5% to around 59,650, while the SSE Composite in China gained 0.26% to about 4,100. By contrast, Hong Kong’s Hang Seng Index fell 1.32% to roughly 26,140, and South Korea’s KOSPI slipped a little more than 0.2% to around 6,370. The uneven performance reflected diverging investor reactions to the geopolitical backdrop and the outlook for trade and inflation.
In Japan, the nikkei advanced even as the Topix edged down 0.8%, suggesting a lack of broad conviction in local equities. Export data offered some support, with shipments rising 11.7%, above expectations and marking a seventh straight month of growth. Demand from China and ASEAN remained solid, although the trade surplus of JPY 667 billion came in well below forecasts.
Hong Kong stocks were under pressure as investors weighed stalled negotiations, potential oil-route disruptions, and firmer energy prices. Rising crude costs have renewed concerns about inflation and higher operating expenses across the region, particularly if tensions continue to threaten shipping lanes.
US Treasury Secretary Scott Bessent said the Navy would maintain its blockade of Iranian ports to pressure Tehran’s revenue base. Separately, the UK Defence Ministry said military planners from more than 30 countries would meet in London to coordinate efforts aimed at reopening the Strait of Hormuz and refining contingency plans.
