Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Justin Sun Calls on Trump-Linked WLFI to Release His Frozen Tokens

16h ago
bullish:

0

bearish:

0

Share
img

Tron TRX $0.33 24h volatility: 0.8% Market cap: $31.49 B Vol. 24h: $941.62 M Founder Justin Sun recently made a post on X, addressing the World Liberty Financial (WLFI) team.

He urged them to unfreeze his WLFI token allocation after they were recently blacklisted on the premise of suspicious transactions.

Justin Sun Accused of Selling WLFI Tokens

Justin Sun’s WLFI pre-sale allocation was frozen on Thursday, on the basis of unauthorized sales.

For context, there were some suspicious transactions flagged by blockchain analytics platform Nansen and Arkham Intelligence, which later triggered accusations of premature selling. The alleged sale was valued at $9 million, and this led to the token lock.

In response, the Tron founder highlighted the principles of decentralized blockchain technology, stating that the blacklisting and freezing of his pre-sale tokens were totally unreasonable and should therefore be unlocked.

“Tokens are sacred and inviolable,” Sun said, adding that this is the most basic value of blockchain technology.

He strongly thinks that WLFI is violating his rights as an investor. In his X post, he mentioned that this risks “damaging broader confidence in World Liberty Financial.”

The Tron founder made sure to remind the WLFI team that he was one of the first investors in the Trump family-linked project pre-sale. He said he planned to hold the token long-term.

Tron Founder Claims 600 Million WLFI Tokens

When WLFI had its Token Generation Event (TGE) on September 1 and unlocked 20% of the 100 billion tokens, Sun took a huge bet.

He claimed 600 million WLFI, which were worth approximately $200 million at the TGE and 3% of the 20 billion unlocked tokens. This large holding made him a significant shareholder of the project, with high influence in its governance decisions.

Arkham Intelligence noted that Sun holds almost $1 billion worth of the token, acquired from sources other than the initial unlock.

It was at this time that he pledged commitment to the project, stating that he has “no plans to sell our unlocked tokens anytime soon.”

He also committed himself to increasing the USD1 circulating supply by $200 million on Tron.

Does Sun Deserve the Token Freeze?

Despite these promises, some crypto analysts and market observers think that Sun is selling his allocation.

Quinten François suggested on X that if Sun is selling WLFI tokens before they vest, it would be grounds for account action.

Sun has denied the allegation, stating that he is not involved in any wrongdoing.

Following the token freeze, Justin Sun is asking the WLFI team to unlock his tokens so he can continue supporting the growth of the World Liberty Financial project.

Last month, he also accused Bloomberg of publishing false information about his cryptocurrency holdings and requested a temporary restraining order to block the outlet from using the data in an unrelated article.

The post Justin Sun Calls on Trump-Linked WLFI to Release His Frozen Tokens appeared first on Coinspeaker.

16h ago
bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.