The Trump family's coin WLFI recently shouted about burning 47 million coins, claiming this is 'to save the market' and to pump it up. But upon closer inspection, I found that it's not that simple; this is clearly another scheme where insider players eat meat, and retail investors can't even get a sip of soup.

Burning sounds impressive, but it's actually just a drizzle. 47000000? That sounds like a lot, right? But the total supply of WLFI is 100 billion! This little burn is like saying you have a thousand dollars, but you claim that throwing away fifty cents is painful. Not to mention, the team still holds over 20 billion coins, saying, 'Only community votes can sell,' but there are thresholds for voting—let's be honest, they still control the narrative.

Firstly, it was exposed right after launch: a 25% crash.

On the first day of WLFI's launch, it plummeted 25%, with the market cap dropping from 40 billion to 5.4 billion. Why so tragic? The project party previously stated that the circulation was 5 billion, but right before the launch, they secretly changed it to 25 billion, instantly multiplying it by five! Many retail investors were stunned, and the forums were filled with complaints from those who were deceived. The rules can be changed at will, the data is manipulated, and there's no transparency at all.

Second, transaction fee buyback? Just empty promises!

They say they will rely on transaction fee income to slowly buy back and destroy coins in the future, sounds nice, right? But with such a large scale, this little transaction fee is just a drop in the bucket. In the short term, some may follow the trend for speculation, but in the long term? It simply can't hold up.

Third, where did the money go? Internal division!

75% of the coin selling income directly went into companies related to the Trump family, DT Marks, and another 7.5% was given to Alt5 Sigma—this company has unusual ties to the upper management of WLFI. More obviously, when WLFI collapsed, Alt5's stock price also halved within two days, and anyone with clear eyes can see they are in the same boat.

Fourth, the ecosystem hasn't developed, and there are a lot of risks.

WLFI itself also launched a stablecoin called USD1, which claims to have a market value of 2.7 billion, but compared to mainstream coins like USDT and USDC, there is still a significant gap. Moreover, Trump's identity is sensitive; he has already been targeted by the U.S. Congress and SEC, which are investigating whether he has interfered with regulation.

Additionally, there is another hidden danger: the UAE sovereign fund invested 2 billion through USD1 into Binance, but Binance had just been fined 4.3 billion by the U.S. This kind of operation, is it legal, or even unconstitutional? Once pursued, WLFI simply can't bear it.

Bank President's Summary: Relying on celebrity effects, ultimately won't go far

Currently, WLFI's price is about $0.22, some people think this is already too high, while others fantasize that it will rise in the future. But in my view, if it only relies on Trump's fame for speculation without a real ecosystem and applications, no matter how much is destroyed, it is just a different way of harvesting profits.

So you ask if this wave of "market rescue" is genuine self-help or just a trick? Feel free to leave a message to discuss together.#加密立法新纪元