News

Odaily reports that Justin Sun posted on X: "I have always been a staunch supporter of President Trump and his crypto-friendly policies. As an early backer of World Liberty Financial, I invested a significant amount of capital during the project's initial phase because I believed in the vision presented to the public: a DeFi platform promoting financial freedom, removing intermediaries, and bringing the benefits of decentralized finance to ordinary people. However, what was never disclosed to me or any investor was that World Liberty had embedded a backdoor blacklist function within the smart contract of the WLFI token. This function grants the company unilateral power to freeze, restrict, or even substantially confiscate any token holder's property rights, without notice, reason, or any means of recourse. This is the antithesis of decentralization. It is a trap disguised as an open door. I hereby condemn the ongoing token scandal created by malicious actors within WLFI. I am the first and largest victim—back in 2025, my WLFI token wallet was illegally blacklisted, a move that violated basic investor rights and the principles of fairness inherent to blockchain. Every action taken by the WLFI team—from extracting fees from users, secretly embedding backdoors to control user assets, freezing investor funds without disclosure or due process, and treating the crypto community as a personal ATM—all these practices are improper and were never authorized through any fair, transparent, or good faith community governance procedures. The governance votes cited to justify the above actions were not conducted through fair or transparent processes. Key information was concealed from voters, meaningful participation was restricted, and outcomes were predetermined. These votes do not represent the will of the community—they represent the will of those who designed them. I have no association with these actions. Nor do the investors who believed in the promises of this project. We strongly oppose each of these actions. The conduct of the WLFI team is corroding the community’s trust in the project. Unlock the tokens, maintain transparency with the community. Let us build with integrity, not misconduct."

U.S. lawmakers, including Elizabeth Warren, are investigating a token-gated event, focusing on whether it involves influence trading and issues of economic interest. (Cointelegraph)

BlockBeats News, April 12 — In response to recent articles about WLFI published by Peter Girnus, who claimed to be a WLFI Web3 ambassador and sparked community discussions, WLFI stated, "After verification, the author is not a member of the WLFI team and has no connection with WLFI." WLFI CEO Zach Witkoff also publicly responded under the related tweet, saying, "Peter Girnus lacks understanding of basic facts. Clarification as follows: · World Liberty and the meme coin TRUMP have absolutely no relationship; · World Liberty has no connection with Fight Fight Fight or CIC Digital; · Our early holders bought in at $0.015 and $0.05, and the current price is $0.08; · Trading fees are not our main source of revenue; our core product is a stablecoin, and its yield comes from treasury assets. By trading volume and market capitalization, our stablecoin is the second largest GENIUS-standard stablecoin."