The billionaire media tycoon David Geffen has filed a counter-combination against the Crypto entrepreneur Justin Sun, degenerating a legal battle on the property of a sculpture of several million dollars by Alberto Giacometti.
The dispute focuses on “the nose”, a geffen sculpture acquired in an agreement of 2022 valued at around 65 million dollars in works of art and in cash.
Sun, the founder of the Blockchain Tron, originally bought the room during an auction of Sotheby’s in 2021 for $ 78 million, with the help of his alarm advisor, Xiong Zihan Sydney.
Justin Sun claims that the trust advisor stole a sculpture sold to David Geffen
The Sun trial in February alleges that Xiong stole the sculpture and sold it to Geffen without its authorization.
But in a 100 -page file on April 16, Geffen retaliated, qualifying the costume of “whistling” and accusing the sun of making the complaint after being unable to resell the two works he received in exchange for sculpture.
Geffen also claims to have paid Sun 10.5 million additional dollars in cash within the framework of the agreement.
“Sun’s claims are completely without merit and represent an attempt in bad faith to interfere with the legitimate property of Geffen’s sculpture,” said counter-communion.
Geffen suggests that Sun, under financial pressure following a series of Crypto and Hacks of several million dollars markets targeting its Poloniex and HTX exchanges, tried to recover the work of art in the context of a wider effort to recover the losses.
The case raises several key disputes, in particular if Xiong has admitted a theft, inconsistencies of the amount which allegedly stolen, and if the Sun is still in possession of the paintings and funds exchanged, that Geffen affirms that the concessionaires are held by the concessionaires.
5 /
Sun Empire = cracking
– Tron is ultra-centralized, mainly controlled by the sun
– Poloniex did not pay users
– HTX volume down 60% since 2023
It is not Fud – the cracks are already displayed. pic.twitter.com/pa92uqlv3b– BTC_Chopsticks (@btc_chopsticks) April 18, 2025
Sun Empire = crackingThe Geffen deposit also alleges a scheme of misconduct by Sun, referring to proceedings filed by former employees who have claimed to have been punished for having refused to engage in commercial practices contrary to ethics or illegal.
The climbing plans depicts the sun as someone with an experience of deception and legal manipulation.
In response, Sun’s legal advisor William Charron firmly rejected Geffen’s story.
“Ms. Xiong admitted the flight, was arrested in China and is currently in detention,” Charron told Artnet.
He rejected Geffen’s version as “extremely wrong” and argued that Xiong acts independently of the sun.
Justin Sun has once eaten a banana of $ 6.2 million
The dispute follows the title of the Sun artistic world in November 2023, when he ate the “actor” of Maurizio Cattelan – a banana channel at a wall – after the purchase for $ 6.2 million at Sotheby’s.
In another development, Sun also said that First Digital Trust, the FDUSD supervising entity, was involved in the diversion of nearly $ 500 million.
He allegedly alleged that First Digital, in partnership with entities such as Aria DMCC, based in Dubai, induced the FDUSD issuer to wiring funds to an unrelated third party.
However, earlier this week, First Digital Labs published a new certificate report confirming that his stablecoin FDUSD remains entirely supported by reserves, even if he faces accusations of fraud of the founder of Tron Justin Sun.
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