Justin Sun, co‑founder of layer‑1 blockchain Tron, has publicly pressed World Liberty Financial (WLFI) — a crypto project linked to former President Donald Trump — to disclose who controls the guardian Externally Owned Account (EOA) and the multisignature wallets that govern its smart contracts. Sun says the setup was used to blacklist his WLFI wallet.
Sun wrote on X that a single guardian EOA tied to WLFI’s multisig appears to be the sole owner of a second guardian safe, which would effectively give one person the unilateral ability to freeze token holders. WLFI has not publicly addressed the substance of Sun’s allegations.
The dispute follows broader governance concerns at WLFI. In March, a vote revealed that 76% of voting power came from 10 wallets — a concentration of influence Sun, an early investor, criticized. WLFI responded by accusing Sun of levelling unfounded claims to distract from his own conduct and threatened legal action.
Sun’s WLFI address was blacklisted in September 2025 after blockchain data providers flagged it over an approximately $9 million transfer. Sun says his presale tokens have been unfairly frozen and has urged WLFI to restore access to his investment. Cointelegraph contacted World Liberty Financial for comment.
WLFI is also under scrutiny for collateral and lending activity. On‑chain data highlighted by Arkham shows WLFI‑linked wallets deposited about 5 billion WLFI tokens as collateral on Dolomite, a decentralized lending platform tied to WLFI CTO Corey Caplan. Those wallets reportedly borrowed roughly $75 million in USD1 and USDC and moved more than $40 million to Coinbase Prime.
DeFi analysts warned those loans could present risks to Dolomite lenders if WLFI’s price approaches liquidation levels. WLFI acknowledged the lending position and said the token currently trades well above liquidation thresholds. Still, WLFI’s price slid to a new low near $0.077 on Saturday as concerns about governance, collateral use and treasury transparency weighed on the market, according to CoinGecko.
Other Trump‑family‑linked tokens, including Official Trump (TRUMP) and Official Melania (MELANIA) memecoins, also hit new lows. Despite that, several large holders resumed accumulating TRUMP ahead of a luncheon at President Trump’s Mar‑a‑Lago residence on April 25, an event for the top 297 token holders.
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