Crypto billionaire Justin Sun has announced plans to invest $20 million in digital assets, splitting the funds between altcoins and World Liberty Financial (WLFI).
According to the Tron founder, he intends to allocate $10 million toward unspecified altcoins, with the remaining amount directed to the newly launched WLFI.
The timing of the move is notable, as WLFI remains under heavy scrutiny following recent controversies related to its high-profile launch.
Notably, following the launch, Sun revealed that more than $75 million of his WLFI holdings had been frozen after the project blacklisted over 270 wallets.
WLFI defended the decision, claiming the affected accounts were linked to phishing scams and compromised credentials. Critics, however, argue the move undermines the platform’s claims of decentralization.
Sun’s defense
Interestingly, Sun, who is an advisor to the project rejected accusations of market manipulation, explaining the transfers were merely “small deposit tests” and not sales.
He called the freeze “unreasonable” and urged equal treatment for all investors. To this end, on-chain analysis from Nansen supported his stance, attributing WLFI’s sharp decline to large market-makers rather than Sun.
“I call on the team to respect these principles, unlock my tokens, and let’s move forward together toward the success of World Liberty Financials,” he said.
Launched in 2024 with strong backing from President Donald Trump and his family, WLFI has experienced extreme volatility since its debut. The token opened above $0.30 but has since lost nearly half its value, trading around $0.18–$0.19.
Featured image via Shutterstock
Source: https://finbold.com/crypto-billionaire-to-splash-20-million-on-these-cryptocurrencies/