At Trump's command, Sun Yuchen's tens of millions of dollars in cryptocurrency wallets were frozen in response. The moment this news broke in the cryptocurrency world, it tore apart not only the interests entangled between the two— the 'decentralization' cloak revered by the crypto market is being violently stripped away by political power and the dark hand of capital, exposing the fangs of centralized control.
The starting point of the story is the 'national-level' token WLFI launched by the Trump team. It is wrapped in the candy coating of 'serious finance' and 'promoting the legalization of cryptocurrency', shouting the slogan of 'building a new financial order', deceiving a large number of retail investors who harbor dreams of getting rich. Meanwhile, the behind-the-scenes players have long formed an alliance: Little Trump takes the stage to create momentum, Sun Yuchen spends money to provide technical support, and what appears to be a 'strong alliance' of political and business cooperation is actually a deadly foreshadowing for manipulating the market.
Not long after, the WLFI governance committee suddenly made a move, freezing hundreds of millions of tokens belonging to Sun Yuchen on the grounds of 'cross-chain looping manipulation of prices.' Even though Sun Yuchen argued it was a 'test transfer,' his past history of maliciously washing TRX and misappropriating USDD reserves has already led the market to trust him zero. Ironically, a single committee can arbitrarily freeze user assets; the so-called 'decentralization' is merely a beautiful lie to harvest retail investors—what essential difference does it have from centralized control in traditional finance?
More dangerous than the events themselves are the trend risks that cannot be hidden behind the scenes: political forces and capital tycoons are accelerating their 'invasion' of the cryptocurrency market, and retail investors are gradually becoming the 'cash cows' waiting to be slaughtered. Today, they can freeze Sun Yuchen's wallet in the name of 'market manipulation,' and tomorrow they might freeze ordinary users' assets under the guise of 'compliance regulation' through CBDC (Central Bank Digital Currency). This is not a conspiracy theory that exaggerates fears, but a 'centralized control drill' that is unfolding.
If the public becomes accustomed to 'asset freezing' and 'transaction review,' the next step may likely be the forced implementation of national-level digital currency—by then, the control over wallets and the power to manage assets will completely slip from individuals, and 'I control my assets' will become an empty talk.
Trump's freezing of Sun Yuchen's assets is a blatant warning: cryptocurrency is never a 'pure land' detached from power and capital; it can anytime become a tool of centralized control. The 'decentralization' that is revered as a faith is vulnerable and easily shattered in the face of absolute power and capital.
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