Trump-backed World Liberty Financial blacklisted Justin Sun's wallet on Thursday, according to onchain data.
Although it's unclear exactly why World Liberty blacklisted the wallet of one of its biggest supporters, the DeFi project blocked Sun after the Tron founder had moved $9 million worth of WLFI tokens, according to Arkham Intelligence. WLFI's price started dropping a few hours before Sun moved the tokens, and at one point was down 24% on Thursday.
"Our 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," Sun posted to X on Thursday.
The Block reached out to World Liberty Financial for comment.
Sun has been one of the biggest supporters of both World Liberty and Trump's memecoin. The crypto billionaire was named an advisor to World Liberty, the DeFi project inspired by President Trump, and bought $75 million worth of WLFI tokens. He also committed to buy $100 million worth of the president's TRUMP memecoin. As one of the top holders of TRUMP, Sun attended a gala dinner earlier this year hosted by the president.
In January, World Liberty bought millions of dollars' worth of Tron's TRX token.
World Liberty Financial's native token started trading on crypto exchanges on Monday. WLFI started trading at $0.32, then subsequently plunged 34% to a low of $0.21, according to The Block's WLFI price page. It traded around $0.18 with a market cap of $5 billion at publication time.
President Trump's three sons are all listed as co-founders of World Liberty Financial.
