HTX, the crypto exchange linked to Justin Sun, has delisted the Trump family's USD1 stablecoin, accusing World Liberty Financial (WLFI) of improperly freezing the exchange's addresses.
"The World Liberty Financial (WLFI) project team recently stated that it has unilaterally imposed a freeze on specific HTX on-chain addresses based on sanctions compliance reviews," HTX said on Saturday. The exchange delisted USD1 to protect user assets.
The delisting took effect Sunday. Deposit and conversion services are suspended, and USD1 holdings will be converted to Tether (USDT) at 1:1.
Last month, the UK sanctioned HTX, formerly Huobi Global, over alleged support for Russia. HTX insists the sanctioned entity is separate from its current platform.
HTX claims its addresses were frozen without proper communication or legal grounds, and has called on WLFI to reverse the freeze. World Liberty Financial, which counts President Donald Trump and his sons as advisors, has not publicly commented.
Sun, who reportedly owns HTX, previously sued World Liberty in April over a token freeze. World Liberty countersued for defamation in May.