Key Takeaways:
- A wallet linked to Justin Sun was blacklisted after transferring $9M worth of WLFI tokens to HTX, raising concerns over restricted token sales.
- WLFI’s price dropped over 22% this week, despite a 47 million token burn by the team aimed at stabilizing its value.
- Justin Sun denied any market manipulation and reiterated his long-term commitment to the WLFI project.
A wallet tied to Tron founder Justin Sun was blacklisted after transferring 50 million WLFI tokens – worth about $9 million – to the exchange HTX.
Blockchain trackers Nansen and Arkham flagged the address soon after, sparking speculation that World Liberty Financial (WLFI) might be restricting token sales during its first week of public trading.
JUST IN: JUSTIN SUN’S ADDRESS BLACKLISTED FOR TRANSFERRING $9M $WLFI pic.twitter.com/O25281D7mi
— Arkham (@arkham) September 4, 2025
The token, which had briefly surged, dropped over 22% to below $0.18.
Sun responded on X, saying the transfers were merely routine deposit tests with small amounts, not intended to influence the market.
He denied any buying or selling, insisting the activity “could not possibly have any impact.”
The blacklisting followed Sun’s reaffirmation of his long-term commitment to WLFI, stressing that unlocked tokens would not be sold anytime soon.
To counter the price drop, WLFI burned 47 million tokens and is considering a buyback program using protocol fees, with plans to burn repurchased tokens.
Despite these efforts, the circulating supply of nearly 100 billion WLFI and sharp volatility have shaken investor confidence, leaving the token ranked among those with the most negative market sentiment.
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