World Liberty Company blacklists Justin Sun's wallet with 595 million WLFI tokens

The cryptocurrency company World Liberty Financial, the issuer of WLFI, has blacklisted the cryptocurrency wallet owned by billionaire Justin Sun, the founder of TRON and CEO of BitTorrent, preventing him from transferring or acting on the WLFI tokens in his possession.

Sun had purchased about 600 million WLFI tokens worth over 140 million dollars on the first day of their official launch last Monday.

According to Onchain data from Nansen and Arkham, his wallet was blacklisted after he transferred 50 million WLFI tokens to the HTX cryptocurrency exchange in a transaction valued at 9 million dollars, raising concerns that the company may prevent some users from selling and pressure prices during the first week of public trading.

Justin Sun responded to this action via a post on platform X, confirming that he had only conducted some "routine deposit tests" with very small amounts of WLFI tokens before creating new addresses, denying that his transactions were related to purchases or sales that would affect the market.

According to Arkham data, about 595 million WLFI (worth approximately 107 million dollars at current prices) remain held in Justin Sun's blacklisted wallet.

These developments come as WLFI has seen a sharp decline since its launch, amid fears of intense selling pressure $WLFI