Justin Sun – the cryptocurrency billionaire and founder of TRON – was once one of the biggest supporters of World Liberty Financial (WLFI), a DeFi project backed by President Donald Trump. However, after more than three months, he is still “sanctioned” by this project and suffers heavy losses.
According to Bubblemaps, the value of the WLFI tokens locked related to Sun has decreased by about 60 million USD, reflecting the severity of the sanctions. Previously, World Liberty unexpectedly blacklisted Sun after he moved approximately 9 million USD worth of WLFI tokens, despite the fact that Sun had invested a total of about 175 million USD in cryptocurrency projects associated with Donald Trump.
Specifically, Sun purchased 100 million USD of the memecoin TRUMP and 75 million USD of the WLFI token, thus becoming the largest investor. Although he claims innocence and argues that the token was frozen “unreasonably,” Sun has yet to have the restriction lifted. Currently, WLFI has decreased by more than 40% since trading began in September.