Sun Yuchen's WLFI dispute was upheld by the court, and individual claims will be tried publicly

Comparing news, Sun Yuchen wrote that his lawyer recently appeared in California federal court to oppose World Liberty Financial (@worldlibertyfi)'s request to forcibly transfer the dispute between the two parties to confidential arbitration and seal the documents. The court ruled that all of Sun Yuchen's individual claims would continue to be tried in open court; at the same time, it rejected the opinion that all company-related claims should be submitted to arbitration, and requested both parties to negotiate to determine which claims remained in court and which went to arbitration. Sun Yuchen called this a major victory, stressing that token holders have the right to understand how the project treats their trusters.

Sun Yuchen said that as one of World Liberty's earliest and largest investors, it invested 45 million dollars to obtain $WLFI tokens. The lawsuit alleges that after the investment helped raise about 550 million US dollars in token sales, the project party secretly implanted a back door in the smart contract, which could unilaterally freeze, restrict, or destroy holders' tokens, and illegally seize their tokens based on this, and also threatened criminal reporting when defending their rights. The lawsuit claims amount to hundreds of millions of dollars. He has previously obtained a court injunction prohibiting the other party from destroying and disposing of his tokens.

Sun Yuchen also said that World Liberty also implants similar backdoor capabilities into its USD1 stablecoin, and mentioned public information such as the project party's use of a large amount of $WLFI tokens as collateral for Dolomite loans and past Dough Finance-related lawsuits by the co-founder, expressed concern about the solvency and transparency of the project, and called on investors to exercise due diligence and caution. The above are all unilateral statements and accusations.