In the early morning, Sun Yuchen once again tore up world liberty financial (hereinafter referred to as WLFI), accusing WLFI, the project party endorsed by the Trump family, of openly engaging in fraud!

And while Justin Sun was defending his rights, many sharp-eyed netizens also discovered that the Trump family had quietly disappeared from the founders of WLFI.

(It was first shown that Trump and Witkoff are both project founders)

The loan incident caused a scandal

This round of WLFI scandal started with a lending incident. WLFI pledged 5 billion of its own governance tokens to a DeFi lending platform called Dolomite and lent $75 million in stablecoins.

This operation forced the utilization rate of Dolomite's USD1 lending pool to 93%. Almost all the USD1 deposited by other users were borrowed by WLFI, making it impossible to withdraw money normally.

The token fell nearly 15% that day, hitting a record low. It is currently quoted at about US$0.079, a drop of more than 82% from the historical high of US$0.46 in September last year.

Subsequently, someone claiming to be the Web3 Ambassador of World Liberty Financial broke the news that 600,000 wallets bought $WLFI coins and lost $3.87 billion, implying that all the money went into the pockets of the Trump family.

When this post broke the news, the Trump family had changed from founders to Web3 ambassadors:

Soon afterwards, Sun Yuchen began to tear apart the project.

Token unlocking governance proposal sparks controversy

Today, the WDFI project team put forward a governance proposal for token unlocking:

• Advisor/Institution/Founder/Team: 2-year full lock + 3-year linear release, but 10% of the tokens (approximately 4.52 billion) must be forcibly destroyed first.

• Early supporters: 2 years full lock + 2 years linear release, must continue to participate in governance during the lock period.

And the domineering one is: If the new plan is not accepted, the tokens will be permanently sealed.

This is the proposal that Sun Yuchen accused before. The main contents are:

1. Objection will be punished - voting against the tokens will be permanently frozen. This is not voting, it is coercion

2. Voting rights are selectively frozen - he holds about 4% of the voting rights but the tokens are frozen and cannot participate, and the result is predetermined before the vote

3. Anonymous multi-signature is actually in power - 3/5 anonymous multi-signature wallets really control the contract, and all on-chain governance voting is nothing but a performance

4. Rulers are anonymous and voters must have their real names - holders need identity verification before they can vote, but those who hold the power of life and death do not show their faces

5. Billions of assets have been illegally disposed of - forcing the destruction and redistribution of tokens under the above conditions is a systematic violation of property rights

The Trump family begins to cut

Now that the WLFI official website has removed the photos of the Trump family, there is a new line of disclaimer at the bottom of the official website:

"Neither Donald J. Trump, members of his family, nor any director, officer or employee of the Trump Organization or DT Marks LLC holds any position with WLF Holdco LLC or World Liberty Financial LLC."

At the same time, Eric Trump deleted a number of WLFI-related tweets on his

Everyone knows what this means!

According to sources, the actual trader of WLFI is the well-known Chinese Da Ge, that can only be said~