How are all my friends? I hope you are well. For those who keep an eye on the crypto market even in their daily busy lives, this recent news is really thought-provoking. So today I am reading, understanding, taking some time to observe the matter and sharing it with you in my own way. I think you will like it after reading the news.
Recently, a topic about TRON founder Justin Sun has come into discussion again. According to the news, he has been blacklisted from a project called World Liberty Financial (WLFI) for more than three months. As a result, he has a large amount of tokens stuck, which he cannot sell or move. In the current market situation, the value of these stuck tokens is estimated to have decreased and turned into a loss of about $ 60 million.
As far as I understand, this problem started last September. Then Justin Sun tried to move about $ 9 million worth of WLFI tokens from an address. After that transfer, the relevant address was blacklisted and the tokens were frozen. Since then, the situation has not changed.
Here is another thing to note. Not only because of the blacklist, but also the weak state of the entire market has exacerbated this loss. The price of WLFI token has fallen significantly since its launch. Since Justin Sun's tokens were frozen, he could not make any decisions or reduce risks even when the market fell.
This incident has become even more discussed because Justin Sun had invested a large amount in some crypto projects related to former US President Donald Trump. According to various reports, his investment in WLFI and TRUMP memecoin combined is about $175 million. He was even invited to a special event as he is a large holder of TRUMP memecoin.
[Src](https://unsplash.com/photos/a-person-holding-two-gold-coins-in-their-hand-_OkKfguWOz4)
However, despite such a large investment and recognition, this blacklist problem has not been resolved yet. Justin Sun himself has already said that he did not make any mistakes and his transfer was part of long-term support. According to him, the decision to freeze the token is unreasonable.
All in all, this incident reminds us of one thing. The crypto market is not only a place of opportunity, but also a place of risk. Big names, big investments—nothing here provides 100% security. That's why it's most important to think and understand your own decisions.
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