World Liberty Financial (WLFI), the crypto protocol linked to Donald Trump and his family, on Thursday blacklisted Tron founder and key investor Justin Sun’s blockchain address, impeding him from transfering WLFI tokens.
The move affects 595 million unlocked WLFI tokens held on the address, worth roughly $107 million at current prices, according to Arkham data.
The action followed the Sun-linked address making several outbound transactions of WLFI tokens on the Ethereum blockchain — including one for $9 million worth of the tokens — blockchain data shows.
Blockchain transactions of WLFI tokens linked to Justin Sun (Arkham Intelligence)
Sun, translated to English from Chinese of the original X post, said that the “address only conducted a few generic exchange deposit tests, with very low amounts, and then created address dispersion, without involving any buying or selling, which could not possibly have any impact on the market.”
Representatives for Sun and World Liberty Financial did not immediately return CoinDesk’s requests for comment.
WLFI tumbled 20% over the past 24 hours. It’s down 42% since it started trading on exchanges on Sep. 1.
Sun, key investor in World Liberty Financial
Justin Sun emerged as a central backer of World Liberty Financial, initially stepping in with a $30 million token purchase and an advisory role in late 2024. Since then, WLFI has had increasing ties to the Tron ecosystem, adding Tron’s native token TRX (TRX) to its treasury and with Eric Trump revealing plans to launch the protocol’s USD1 stablecoin on Tron.
By mid-2025, Sun’s total investment in the protocol had grown to about $75 million. On the eve of WLFI token’s market debut he was reported to hold nearly $700 million worth of tokens, much of it still vesting-locked.
Sun said on Monday, when WLFI launched, that “we have no plans to sell our unlocked tokens anytime soon.”