The a lot beleaguered cryptocurrency token World Liberty Monetary (WLFI), which frequently lies about its token and likewise was endorsed by monetary fraudster Donald Trump, has discovered a brand new supporter in Justin Solar. Solar introduced that he has now bought extra of the token than anybody else and greater than was imagined to be obtainable.
Solar took to X (previously Twitter) to announce that he had determined to “invest $30 million in World Liberty Financial.” The two billion WLFI tokens he bought have been despatched to 0x5AB26169051d0D96217949ADb91E86e51a5FDA74, an tackle that was funded earlier at present from Solar-advised HTX.
Unusually, the World Liberty Monetary staff had beforehand indicated in SEC filings that it supposed to solely promote a complete of $30 million value of this token, noting in a SEC submitting that “the company currently only plans to sell tokens up to $30M in the offering before terminating sales.” It isn’t clear why it has determined to alter this plan.
This alteration to the sale has additionally not been mentioned within the World Liberty governance discussion board, which final noticed exercise 25 days in the past.
This buy makes Solar the most important purchaser of this token, with the following closest holding lower than one tenth as a lot as he has. Solar controls nearly all of all bought tokens.
Nevertheless, Trump himself controls roughly ten occasions as many tokens as Solar.
A Dune dashboard created by ‘Seoulcalibur.eth’ means that roughly 68% of the entire gross sales of the WLFI token have gone to only 5 wallets, however even all 5 of these wallets collectively have lower than 15% as many tokens as Trump.
Learn extra: Who’s behind World Liberty Monetary, Trump’s new crypto?
Solar’s buy of this token comes proper on the heels of Solar-advised HTX redeeming roughly $500m value of Wrapped Bitcoin, a wierd transaction since HTX didn’t beforehand disclose controlling WBTC.
Protos reached out to World Liberty Monetary to find out why it determined to switch its deliberate token sale for Solar, however at press we now have not acquired a response.
Replace 2024-11-25 20:56 UTC: Up to date headline for readability
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