World Liberty Financial Blacklists Justin Sun’s Wallet Amid WLFI Token Controversy
World Liberty freezes Justin Sun’s WLFI holdings, citing concerns an exchange used user tokens to push down the token’s price.
World Liberty Financial has blacklisted Justin Sun’s wallet, freezing 540 million unlocked WLFI tokens and 2.4 billion locked tokens.
The rumored move comes just days after the WLFI token began public trading on major exchanges.
World Liberty said it believes an exchange has been using user tokens to sell and suppress WLFI’s price. The project did not name the platform.
WLFI’s largest outside investor invested $75 million and accumulated around 3 billion tokens, worth nearly $900 million last week.
At launch, 600 million of his tokens were unlocked, but Sun publicly claimed he had no intention to sell.
WLFI trading volume topped $1 billion in its first hour on September 1, with prices swinging between $0.40 and $0.20.
The Trump family, holding 22.5 billion WLFI, saw their locked tokens briefly valued at $5 billion on paper.
The blacklist raises questions about governance and tokenholder rights in one of the year’s most politically charged crypto launches.
Regulators may also scrutinize the incident given Sun’s ongoing legal disputes and WLFI’s ties to U.S. political figures.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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