News
  • Steve Muchoki
    author-profile
    Steve Muchoki right arrow
    Author

    Steve is a crypto news writer with a passion for decoding market moves. He blends breaking blockchain news with sharp technical analysis and bold price predictions. From Bitcoin rallies to altcoin breakouts, Steve breaks it all down with clarity and insight. Whether you're a trader or just curious, his analysis keeps you ahead of the curve.

    • 1 minute read

    Justin Sun To Purchase $10M In WLFI After a Controversial Wallet Freeze

    Story Highlights
    • Sun announced that he would buy $10M in WLFI and $10 million in ALT5 as they are undervalued.

    • The WLFI team blacklisted wallets associated with Sun after being accused of market manipulation.

    • The WLFI price has suffered bearish sentiment after an impressive pre-listing rally during its ICO.

    Justin Sun, founder of Tron (TRX), has backed down in the feud against World Liberty Financial (WLFI). The crypto billionaire announced that he will deploy more capital to the Donald Trump-backed DeFi project WLFI and ALT5 Sigma Corp. (ALTS).

    “We believe U.S.-listed crypto stocks are an undervalued opportunity. I will market buy $10 million worth of ALTS and $10 million worth of $WLFI,” Sun noted.

    Why Did Sun Deploy More Capital at WLFI Even After the Wallet Freeze

    Earlier on Friday, Sun complained on X to the WLFI team about his unreasonably frozen tokens. According to Sun, the World Liberty Financial team violated investors’ trust by not acting with fairness.

    “I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets. Such measures not only violate the legitimate rights of investors, but also risk damaging broader confidence in World Liberty Financials,” Sun noted.

    However, the WLFI team did not respond to Sun’s request by the time of this writing. However, it was reported that the WLFI team is forcing early large investors to hold to avoid inducing further bearish sentiment.

    As such, Sun may have deployed more capital to the WLFI project as goodwill to his damaged reputation.

    $WLFI Price Not Yet Out of the Woods

    As Coinpedia reported on Thursday, WLFI price must consistently close above the resistance level around 20 cents to invalidate further midterm correction. The mid-cap altcoin, with a fully diluted valuation of about $18 billion and a 24-hour average traded volume of around $1 billion, has dropped over 44% from its all-time high to trade about $0.18 on Friday, September 5, during the mid North American session.

    Show More

    Related Articles

    Back to top button