Trump Family-Associated World Liberty Financial Token Surges 8% Despite Bitcoin and Ethereum Declines
WLFI Token Performance: The World Liberty Financial (WLFI) token surged over 3% in 24 hours, contrasting with the decline of major cryptocurrencies like Bitcoin and Ethereum, and has gained over 8% for the week.
Collaboration with Solana: The rally is attributed to WLFI's partnership with Solana-based DeFi protocol Raydium and meme coin launchpad Bonk.fun for its USD1 stablecoin, as highlighted by co-founder Eric Trump.
WLFI's Volatile History: WLFI faced significant volatility in its initial trading week, dropping 29% from its opening price and over 52% from its all-time high, with $5.90 billion in investor wealth lost.
Investor Controversy: The situation escalated when WLFI blacklisted the wallet of major investor Justin Sun, who claimed the firm acted unreasonably by freezing his holdings, raising concerns about investor rights.
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