WLFI versus Justin Sun

[Oshosondy]

Let us see what will happen in court. You would have read this topic: https://bitcointalk.org/index.php?topic=5580098.0

There has been at least 3 people that we know that WFLI froozed their coins and Justice Sun was one of them.

See what is happening now.

This is what we are talking about altcoins. His coins is freezed since manyonthe ago but he now cared. If the assets of WLFI worthless tokens of whales have not been frozen, the price of the token would have hit far lower price already.

The freezing still means that the token is very worthless.

Sun urged the Trump-linked WLFi platform to disclose who controls the multi-sig and smart contract behind the platform, days after its governance token hit a new low.

What is now creating the fear is:

Sun’s latest allegations come as WLFI is already under pressure after project-linked wallets deployed substantial token holdings as collateral on Dolomite, a decentralized lending platform linked to WLFI chief technology officer Corey Caplan.

Onchain data flagged by Arkham showed WLFI-linked wallets deposited about 5 billion WLFI tokens on Dolomite, borrowed about $75 million in USD1 and USDC
USDC
$1
, and transferred more than $40 million to Coinbase Prime.

Multiple DeFi analysts said the loan raises concerns for lenders on Dolomite if WLFI’s price falls near liquidation levels. WLFI acknowledged the lending position and assured investors that the WLFI token trades well above the liquidation threshold.

I think they fear the token price will drop and if the token price continue to drop, there will be abrupt liquidations of the peoples WLFI tokens and people will continue to sell which is not new to altcoins, but WLFI freezed their coins.

[OmegaStarScream]

I can only imagine what would've happened to WLFI's price if more tokens were unlocked, because right now, those who participated in the sale, don't have full access to everything they initially bought.

I also don't understand why would've anyone invested in WLFI? I saw it when it was first announced, the sales page and everything... And it just didn't sit right with me. I mean aside from it being backed by the president? what's so special about it?

[BattleDog]

A lot of people do not buy these things because they are technically impressive. They buy because they think proximity to powerful names will protect them from normal market gravity. Then gravity clocks in anyway.

I have seen this movie across multiple cycles and the ending is always the same: the small guys get told to be patient while the people near the switchboard somehow always have options. Once a token needs frozen balances, controlled unlocks, and PR gymnastics just to maintain the illusion of health, the chart is already telling you the truth.

[passwordnow]

I also don't understand why would've anyone invested in WLFI?

I think it's just because they've read that it's with Trump or he's a part of it or whatsoever. People nowadays invests on the popularity of whoever endorses it or the names that they're dropping for them to gain attention of the investors. I'm glad that I didn't invest onto this project because I'm now in losses when I've invested into the meme coin of Trump's wife, lol.