Trump's Biggest Crypto Supporter Turns Against Him
Trump's Biggest Crypto Supporter Turns Against Him
Trump's biggest crypto supporter, Justin Sun, has turned against him, accusing World Liberty Financial of implanting backdoor controls over user assets. The feud marks a dramatic escalation in the relationship between Sun and the Trump-linked crypto project.
Background on the Feud
Justin Sun, the founder of the Tron blockchain, has been a key backer of Trump-linked crypto projects, investing at least $75 million in the project's WLFI token and $18 million in the president's TRUMP memecoin. However, the relationship has soured, with Sun accusing World Liberty Financial of freezing investor funds without disclosure or due process.
Accusations and Allegations
Freezing of Assets
Sun claims that World Liberty Financial froze one of his wallets in September after he moved WLFI to the HTX crypto exchange, which he owns. The block meant that Sun couldn't move more WLFI out of that wallet.
Backdoor Controls
Sun also accused World Liberty Financial of implanting backdoor controls over user assets, giving them the power to freeze investor funds without disclosure or due process. He urged the project to publicly disclose who controls the single guardian EOA and the 3/5 multisig that governs the WLFI smart contract.
Response from World Liberty Financial
World Liberty Financial hit back at Sun, telling him they'd see him in court. The project's WLFI token is trading 75% below its September peak, amid fresh questions about its finances and decentralized finance maneuvers.
Key Takeaways
- Justin Sun, Trump's biggest crypto supporter, has turned against him, accusing World Liberty Financial of implanting backdoor controls over user assets.
- The feud marks a dramatic escalation in the relationship between Sun and the Trump-linked crypto project.
- World Liberty Financial's WLFI token is trading 75% below its September peak, amid fresh questions about its finances and decentralized finance maneuvers.
- The project's finances and governance structure are under scrutiny, with Sun urging the project to publicly disclose who controls the single guardian EOA and the 3/5 multisig.
Frequently Asked Questions
What is the feud between Justin Sun and World Liberty Financial about?
The feud is about Sun's accusations that World Liberty Financial has implanted backdoor controls over user assets and frozen investor funds without disclosure or due process.
How much has Justin Sun invested in Trump-linked crypto projects?
Justin Sun has invested at least $75 million in the project's WLFI token and $18 million in the president's TRUMP memecoin.
