$TRUMP meme coin falls on Musk-Trump fallout

Amid the public feud that seems to be ending the Elon Musk-Donald Trump bromance, it’s not just Trump trades that are getting hit.

President Trump’s namesake meme coin, trump, is down over 10% today, plummeting on the flurry of back-and-forth insults.

It started with Musk criticizing Trump’s “big, beautiful bill,” but this afternoon it escalated to a “really big bomb,” with Musk alleging Trump is involved in the Epstein files and Trump threatening Musk’s government contracts.

Not to worry, not everyone is at a financial loss here. Some are already making money from this. Earlier today, a Kill Big Beautiful Bill meme coin was launched on Pump.fun. As of this afternoon, it hit a $34 million market cap, according to Crypto News.

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Justin Sun sues Trump-backed World Liberty over frozen tokens

Crypto billionaire Justin Sun, owner of the world’s most expensive banana, was named an adviser to World Liberty Financial the day after investing $30 million in the project. (He’d later boost that with $45 million more.) Sun has long been a supporter of President Trump, and has not once, but twice topped a competition to amass the most $TRUMP coins. But it seems even for Sun, the gold has turned brass.

Sun announced on social media that he’s filed a lawsuit in a California federal court against the crypto project backed by Trump.

The lawsuit alleges World Liberty engaged in an “illegal scheme to seize property” and “positioned itself as the new boogeyman” by stripping Sun of his governance rights, threatening to burn his WLFI tokens, and freezing his stash, which at times were worth $1 billion, according to the complaint dated on Tuesday.

“I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation,” Sun wrote in a lengthy X post on Tuesday night. “But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.”

The complaint also alleged that World Liberty appears to be in financial trouble, citing concerns over whether the project can repay an on-chain loan that was collateralized by using, at the time, $5 billion worth of WLFI. The token reached an all-time low less than two weeks ago.

Despite the escalation with World Liberty, Sun said the lawsuit does not change his feelings about Trump or his administration. “I have always been — and remain — an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly,” he said.

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