Billionaire and Tron founder Justin Sun has claimed that World Liberty Financial has frozen over $100 million in cryptocurrency purchased from the project. According to sources, Sun had spent around $75 million to purchase the project’s WLFI token.
The Tron founder has been one of the biggest backers and an early investor in World Liberty Financial.
Justin Sun’s WLFI Tokens Frozen
The Trump family-backed World Liberty Financial has frozen the tokens of one of its biggest supporters. Billionaire Justin Sun revealed on Friday that the project had frozen over $100 million in cryptocurrency that he had purchased. Sun revealed his assets were frozen in a post on X, stating,
“To the World Liberty Financials team and the global community, as one of the early major investors in World Liberty Financials, I have contributed not only capital but also my trust and support for the future of this project. My goal has always been to grow alongside the team and community, and to jointly build a strong and healthy WLF ecosystem. However, during the course of operations, my tokens were unreasonably frozen. As one of the early investors, I joined together with everyone—we bought in the same way, and we all deserve the same rights.”
Sun is a highly controversial figure and was a prominent guest at a dinner hosted by President Trump to reward the biggest supporters of World Liberty Financial. However, Sun seems to have fallen afoul of the President and his allies after moving a portion of his position to a different Trump-linked cryptocurrency.
Sun Moved Assets After Price Drop
According to data from Arkham Intelligence, Sun moved around $9 million worth of WLFI tokens on Thursday, following a 40% drop in its value since it became tradable on Monday, according to data from Binance. Sun acknowledged that he had transferred some of his holdings, but insisted he was not responsible for the drop in WLFI’s value. The Tron founder even offered to buy $10 million worth of stock in any Trump-linked company and another $10 million in WLFI tokens.
“No buying or selling was involved, so it could not possibly have any impact on the market. I am innocent.”
World Liberty Financial has not responded to Sun so far. However, the project’s social media account posted on Friday, stating,
“We do not seek to blacklist anyone. We respond when alerted to malicious or high-risk activity that could harm community members.”
Action against The Project’s Biggest Supporter
World Liberty Financial’s decision to freeze Sun’s assets could potentially alienate one of its biggest supporters. The project was launched in October, and counts President Trump and his sons, Eric, Barron, and Donald Trump Jr. as co-founders. World Liberty Financial is also aiming to create and launch an application for Decentralized Finance (DeFi). Sun had announced in January that he had purchased $75 million worth of WLFI tokens.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
