The post Justin Sun To Purchase $10M In WLFI After a Controversial Wallet Freeze appeared first on Coinpedia Fintech News
Justin Sun, founder of Tron (TRX), has backed down in the feud against World Liberty Financial (WLFI). The crypto billionaire announced that he will deploy more capital to the Donald Trump-backed DeFi project WLFI and ALT5 Sigma Corp. (ALTS).
“We believe U.S.-listed crypto stocks are an undervalued opportunity. I will market buy $10 million worth of ALTS and $10 million worth of $WLFI,” Sun noted.
Why Did Sun Deploy More Capital at WLFI Even After the Wallet Freeze
Earlier on Friday, Sun complained on X to the WLFI team about his unreasonably frozen tokens. According to Sun, the World Liberty Financial team violated investors’ trust by not acting with fairness.
“I believe that a truly great financial brand must be built on fairness, transparency, and trust—not on unilateral actions that freeze investor assets. Such measures not only violate the legitimate rights of investors, but also risk damaging broader confidence in World Liberty Financials,” Sun noted.
However, the WLFI team did not respond to Sun’s request by the time of this writing. However, it was reported that the WLFI team is forcing early large investors to hold to avoid inducing further bearish sentiment.
As such, Sun may have deployed more capital to the WLFI project as goodwill to his damaged reputation.
$WLFI Price Not Yet Out of the Woods
As Coinpedia reported on Thursday, WLFI price must consistently close above the resistance level around 20 cents to invalidate further midterm correction. The mid-cap altcoin, with a fully diluted valuation of about $18 billion and a 24-hour average traded volume of around $1 billion, has dropped over 44% from its all-time high to trade about $0.18 on Friday, September 5, during the mid North American session.