Justin Sun, who has invested a cumulative $45 million to purchase WLFI tokens, seeks sanctions against WLFI

Justin Sun has stated that his lawyers have filed a motion with a U.S. federal court seeking sanctions against World Liberty Financial (WLFI) and its attorneys, alleging that WLFI disclosed its UAE citizenship only months after the litigation was underway. WLFI initially declared that its sole owner was itself, with citizenship in Florida. In August, the court ruled that some claims would remain in open court; less than a week later, WLFI amended the members of its ownership chain to 22 individuals, involving the UAE and other jurisdictions, and on that basis argued that the federal court lacked jurisdiction. Sun claims that he has invested a cumulative $45 million to purchase WLFI tokens, sued WLFI in April for fraud and to freeze its tokens; after the ruling on the sanctions motion, he will refile the lawsuit in a California state court.