Justin Sun buys more of Trump’s WLFI than should be available

The much beleaguered cryptocurrency token World Liberty Financial (WLFI), which regularly lies about its token and also was endorsed by financial fraudster Donald Trump, has found a new supporter in Justin Sun. Sun announced that he has now purchased more of the token than anyone else and more than was supposed to be available.

Sun took to X (formerly Twitter) to announce that he had decided to “invest $30 million in World Liberty Financial.” The 2 billion WLFI tokens he purchased were sent to 0x5AB26169051d0D96217949ADb91E86e51a5FDA74, an address that was funded earlier today from Sun-advised HTX.

Strangely, the World Liberty Financial team had previously indicated in SEC filings that it intended to only sell a total of $30 million worth of this token, noting in a SEC filing that “the company currently only plans to sell tokens up to $30M in the offering before terminating sales.” It is not clear why it has decided to change this plan.

This change to the sale has also not been discussed in the World Liberty governance forum, which last saw activity 25 days ago. 

This purchase makes Sun the largest purchaser of this token, with the next closest holding less than one tenth as much as he has. Sun controls the majority of all purchased tokens.

However, Trump himself controls approximately ten times as many tokens as Sun.

A Dune dashboard created by ‘Seoulcalibur.eth’ suggests that approximately 68% of the total sales of the WLFI token have gone to just five wallets, but even all five of those wallets together have less than 15% as many tokens as Trump. 

Read more: Who is behind World Liberty Financial, Trump’s new crypto?

Sun’s purchase of this token comes right on the heels of Sun-advised HTX redeeming approximately $500m worth of Wrapped Bitcoin, a strange transaction since HTX did not previously disclose controlling WBTC.

Protos reached out to World Liberty Financial to determine why it decided to modify its planned token sale for Sun, but at press we have not received a response. 

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