Post · bonfire.cafe

Post

The Trumps' World Liberty Financial project has frozen WLFI tokens in wallet addresses belonging to Justin Sun that contain ~$100 million (on paper) in unlocked WLFI. Sun is a major backer of the project, which the Trumps say they founded to stop "debanking".

The freeze apparently came after Sun transferred around ~$9M of his holdings to Binance.

The World Liberty team has been desperately trying to prevent the WLFI price from sinking, including by burning tokens to boost the price. They may be concerned that whales like Sun could further depress the token price by cashing out.

#crypto #JustinSun

hbhotz

@hbhotz@ioc.exchange replied · 5 months ago

@molly0xfff I don’t suppose you can short cryptocurrency, can you?

Local Agency

@laprice@beige.party replied · 5 months ago

@molly0xfff If they can't manage a play currency it's a much harder argument about letting them manage the currency we all depend; to wit the almight $.

Just saying the the federal reserve being an independent body is for very good reasons.

noplasticshower

@noplasticshower@infosec.exchange replied · 5 months ago

@molly0xfff it's turtles all the way down

as a large fashion model,

@dngrs@chaos.social replied · 5 months ago

@molly0xfff 🍿🍿🍿

GadgetGav

@gadgetgav@mas.to replied · 5 months ago

@molly0xfff 🍿🍿🍿

Dave Rahardja 🎄

@drahardja@sfba.social replied · 5 months ago

@molly0xfff I love the idea that the Trumps can freeze tokens on this blockchain. I thought the whole selling point behind crypto was decentralization and no single point of control but what do I know?

Nova Rivera

@novarivera@mastodon.social replied · 5 months ago

@drahardja @molly0xfff even the cryptobros know if you aren't storing the crypto in your own wallet this freezing thing happens.

@mral@mastodon.sdf.org replied · 5 months ago

@molly0xfff
<tongueInCheek>🤔I'm confused, I thought that one of the main concepts of cryptocurrency was to prevent an all powerful central bank from manipulating the actions of individuals. The value of crypto was suppose to be controlled by the free market. It was the protocol that was the ruling entity, not some small group of individuals.

Its beginning to look like the whole project of WLFI was to be used as a conduit to funnel untraced money into conservative hands.</tongueInCheek>

Dan Sugalski

@wordshaper@weatherishappening.network replied · 5 months ago

@molly0xfff If Sun tanks WLFI and screws the Trumps over I will laugh so, so hard. The FBI response will be utterly epic too. (Deeply corrupt, but nonetheless epic)