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Green SM changes its brand from Xanh SM to Green SM. The Green Smart Mobility and Intelligent Transport Joint Stock Company (GSM) announced the brand change from Xanh SM to Green SM. The change aims to unify brand identity across the entire system and marks the company's three-year operation. In…
Justin Sun, founder of the Tron layer-1 blockchain network, criticized World Liberty Financial (WLFI), a decentralized finance platform co-founded by US President Donald Trump’s sons, over what he described as lengthy lock-up periods for the platform’s governance token.
Sun said he invested “significant capital” in WLFI as an early investor and criticized a March WLFI governance proposal that would determine token lock-up periods. He said the proposal lacked transparency, noting that more than 76% of the voting tokens came from 10 wallets.
“The governance votes cited to justify the above actions were not conducted through fair or transparent procedures. Key information was withheld from voters, meaningful participation was restricted, and outcomes were predetermined.”
World Liberty Financial responded, saying Sun was “playing the victim” and making “baseless allegations” to cover up his own misconduct. The platform threatened legal action against Sun over his claims.
The dispute unfolded alongside community pushback against WLFI and confirmation that the platform was using its own governance tokens as loan collateral. The backlash coincided with WLFI’s token price falling to an all-time low.
WLFI’s token hit a new all-time low on Saturday, dropping to $0.07 after news that the platform was using WLFI tokens as collateral to borrow stablecoins.
According to the report, wallets linked to World Liberty Financial used WLFI tokens as collateral on Dolomite, a DeFi platform co-founded by WLFI’s chief technology officer, Corey Caplan, to take out the stablecoin loan.
WLFI said it acts as an “anchor” borrower, generating yield for the platform and value for token holders. The platform also described itself as “one of the largest suppliers and borrowers” in the WLFI ecosystem.
Sun said the approach amounted to exploiting the community, adding that it had not been authorized through what he described as a fair, transparent, good-faith governance process.
“Treating the crypto community as a personal ATM is unjust and has never been authorized through any fair, transparent, good-faith community governance process,” Sun said.
Cointelegraph reported that it reached out to World Liberty Financial for comment but did not receive a response by the time of publication.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
