- Justin Sun had approximately 544 million World Liberty Financial tokens frozen in September 2024 after the project blacklisted a Sun-affiliated address.
- Sun’s originally $119 million stake has lost roughly $70 million in value as the WLFI token price has plunged about 59%.
- Despite the conflict, Sun remains a prominent figure within the Donald Trump-aligned crypto ecosystem, leading a conference leaderboard.
- The blacklisting was executed by the team, which claimed it suspected the address of misappropriating other holders’ funds.
Justin Sun faces a dramatic $70 million paper loss on his frozen stake in the World Liberty Financial project, which is co-founded by former President Donald Trump. The crisis began last September when the World Liberty team blacklisted a Sun-linked address over fund misappropriation suspicions.
World Liberty alleged the address was involved in misusing other holders’ assets, a claim Sun publicly disputed. In response, Sun stated on X that “my address only carried out a few general exchange deposit tests with very small amounts, followed by an address dispersion” and demanded his tokens be unlocked. Consequently, his holdings, worth $119 million at a $0.22 token price, were rendered illiquid.
The WLFI token has since crashed to roughly $0.09, marking a 59% decline from its September level. This devaluation leaves Sun’s blacklisted 544 million tokens valued at only about $49 million. However, this multi-million dollar freeze has not severed his ties to the broader Trump crypto sphere.
Meanwhile, the team behind the $TRUMP memecoin recently posted an image showing Sun atop the leaderboard for an upcoming Trump-affiliated conference. His prominent position is maintained even though the qualifying tokens are held in an HTX exchange address, not a personal wallet.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
