After a severe shock, a move by Eric Trump, the second son of Trump, caused an uproar online — in just 5 minutes, he not only deleted all photos with Sun Yuchen but also unfollowed him, an action that is seen in the industry as a clear signal of the complete rupture of their cooperation.
What is even more shocking is that the Trump family's affiliated organization immediately froze two core wallets of Sun Yuchen, which contained 1.42 billion WLFI that are firmly locked. According to the market price at that time, these assets were valued at as much as 3.5 billion RMB, which is undoubtedly a significant blow to Sun Yuchen's assets, almost equivalent to freezing half of his fortune.
Who would have thought that just 48 hours ago, the two were at the center of a dinner in Miami, chatting happily and raising their glasses frequently. At that time, Eric publicly stated, 'Mr. Sun is our important partner,' which gave many retail investors confidence in WLFI, prompting them to buy in and look forward to a price increase.
However, the market changes came unexpectedly. On the 16th, the price of WLFI first dropped by 16%, giving investors a cold shower. By the 17th, there was a rapid sequence of 'delete photo - unfollow - freeze' that shocked the entire crypto community with its twists and turns, even more dramatic than a TV series.
Regarding why the Trump family suddenly took such a tough stance, opinions within the circle vary. Industry insiders revealed that it might be because Sun Yuchen privately sold 800 million WLFI, made huge profits, and then engaged in dumping operations, harming the interests of partners. Some believe that the Trump family might be worried about being investigated by the U.S. Securities and Exchange Commission (SEC), and in order to protect Trump's campaign activities, they urgently cut ties with Sun Yuchen to clarify the relationship.
Regardless of what the real reason is, Sun Yuchen undoubtedly suffered heavy losses this time. 3.5 billion in assets cannot be withdrawn, and the cooperation with the Trump family has turned into a bubble. Even his TRX has been affected, with the price dropping by 7%.
In fact, the celebrity connections in the crypto world often hide huge risks. Many projects that previously had stars promoting them or collaborations with big shots ended up making retail investors the ones left holding the bag, losing everything. The subsequent developments of the WLFI incident are still unknown, but many people have raised questions about whether this could be a hype orchestrated by Trump and Sun Yuchen together. After all, such operations are not without precedent in the crypto world.
Currently, the price of WLFI is still fluctuating, investors are anxious, and the entire crypto community is closely watching the further developments of the event.
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