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Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
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Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

WLFI Token Controversy: Justin Sun Denies Selling Rumors Following Address Blacklist

Rubmar Garcia
Rubmar Garcia
6 days ago
3 mins read
WLFI

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Trump-backed DeFi project World Liberty Financial has blacklisted an address linked to Justin Sun after it reportedly transferred some of its WLFI tokens, sparking allegations of market manipulation.

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World Liberty Financial Blacklists Justin Sun

On Thursday, World Liberty Financial reportedly blacklisted the Tron founder’s address following his recent movements of his WLFI holdings and multiple online accusations that he was selling.

According to Arkham data, Sun claimed 600 million WLFI tokens at the Token Generation Event (TGE), valued at $200 million at the time, as 20% of the 100 billion tokens were unlocked.

The Tron founder was one of the earliest investors in World Liberty Financial in 2024 and was recognized as the top holder of US President Donald Trump’s official memecoin, TRUMP, earlier this year.

On September 1, he shared his conviction on the token, affirming that WLFI “will be one of the biggest and most important projects in crypto.” He also stated that he had “no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission.”

Nonetheless, multiple on-chain analysis platforms revealed that Sun had started to move his unlocked tokens, sparking rumors that he was selling. On-chain data showed that he had sent 4.9 million WLFI to crypto exchange HTX, owned by the Tron Founder, over the past two days.

Sun reportedly transferred 50 million tokens, worth $9.12 million, to a new wallet on Thursday morning, “likely to be deposited into HTX.” Meanwhile, Wu Blockchain noted that over the past 32 hours, HTX address “HTX 48” transferred approximately 60,000,000 WLFI tokens to Binance deposit address 0xf387D7…29FcB5.

Sun Denies WLFI Selling Accusations

Following the $9 million move, “World Liberty Financial’s controlling address 0x407F…5178 called the guardianSetBlacklistStatus function on the WLFI Token contract, blacklisting the address 0x5AB2…DA74, which is associated with Justin Sun,” Wu Blockchain explained.

WLFI
WLFI’s controlling address blacklists Justin Sun-linked address. Source: Wu Blockchain on X

The action froze Sun’s unlocked and 2.4 billion locked WLFI tokens. Tron’s founder responded to the accusations on X, stating that his address just conducted “a few test deposits on exchanges with very low amounts, followed by an address distribution.”

He added that these tests “did not involve any trading activities and could not have impacted the market in any way,” but did not comment on the blacklist. At the time of writing, World Liberty Financial has not addressed the situation.

WLFI’s Price Hits New Low

The news comes as WLFI’s price struggles just three days after launching. Earlier today, the token hit an all-time low (ATL) of $0.16 before bouncing to the $0.18 mark. This performance represents a 20% decline over the past 24 hours and a nearly 45% drop from its all-time high (ATH) of $0.33.

Market watcher Daan Crypto Trades noted that the cryptocurrency has broken down from a triangle formation, where the price was compressing for the past two days. According to the trader, WLFI saw a “quick acceleration as expected” and “even gave a nice retest before the continuation down.”

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Meanwhile, analyst Ali Martinez suggested that te bottom might not be in, highlighting that the token now risks a 25%-50% drop after losing the $0.20 area as support.

WLFI
WLFI’s performance on the three-day chart. Source: WLFIUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com
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Rubmar Garcia
Rubmar Garcia

Rubmar Garcia

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.

Read more

From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.

In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.

At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money.

After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.

Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.

In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band.

She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.

In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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