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WLFI Token Controversy: Justin Sun Denies Selling Rumors Following Address Blacklist
World Liberty Financial, a Trump-backed DeFi project, has blacklisted an address associated with Justin Sun. This action followed reports that Sun had transferred some of his WLFI tokens, leading to accusations of market manipulation. Sun had initially claimed a significant amount of WLFI tokens at the Token Generation Event and expressed strong long-term conviction in the project. He also stated he had no plans to sell his unlocked tokens soon. However, on-chain data indicated Sun moved millions of WLFI tokens to HTX, an exchange he owns. World Liberty Financial responded by freezing Sun's WLFI holdings, both unlocked and locked. Sun denied market manipulation, explaining the transfers were for test deposits and address distribution, not trading. He did not comment on the blacklist itself. The news coincides with a significant price drop for WLFI, which has fallen to an all-time low shortly after its launch. Market analysts suggest the token's price could decline further.
