Justin Sun Accuses WLFI of Rigged Vote; Platform Threatens Suit

Justin Sun, founder of the Tron blockchain, accused World Liberty Financial (WLFI) of manipulating a March governance vote on token lock-up periods and withholding key information from voters. Sun wrote that more than 76% of the voting power for the proposal came from ten wallets.

Sun posted on X that he invested “significant capital” in WLFI as an early backer and described the vote as not conducted through “fair or transparent procedures.” In a translated passage he wrote, “Key information was withheld from voters, meaningful participation was restricted, and outcomes were predetermined.” He also criticized the platform for using governance tokens as collateral and wrote that treating the crypto community “as a personal ATM” was unjust.

World Liberty Financial issued a statement calling the allegations baseless and accusing Sun of deflecting blame. The statement included, “Justin’s favorite move is playing the victim while making baseless allegations to cover up his own misconduct,” and warned the company would consider legal action over the remarks.

The WLFI token fell to a record low of $0.07 after confirmation that wallets linked to the platform used WLFI tokens as collateral to borrow stablecoins. Those loans were taken on Dolomite, a decentralized finance platform co-founded by WLFI chief technology officer Corey Caplan.

WLFI described itself as an “anchor” borrower in its ecosystem and said the borrowing activity generates yield for the platform and value for token holders. The company added it is “one of the largest suppliers and borrowers” in the WLFI system.

WLFI said it will pursue internal governance processes to manage token unlocks and borrowing arrangements. Sun and other critics said such actions should have been authorized through clear and inclusive governance procedures.

The platform was co-founded by Donald Trump’s sons. The dispute coincided with criticism from some token holders and observers about concentrated voting power and the use of governance tokens in financial operations.