Earlier today, the WLFI fell to an all-time low following a 16% daily crash.
Most major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), saw slight price declines following the Fed’s decision to keep interest rates unchanged and amid ongoing geopolitical tensions in the Middle East.
World Liberty Financial (WLFI), however, performed much more poorly, falling 16% in the past 24 hours.
Another red day
WLFI came into existence in September last year and quickly gained momentum, with its price climbing to almost $0.25 and its market capitalization surpassing $6.6 billion. However, over the past few months his condition has seen a significant decline and the last 24 hours have only made him worse. Currently, WLFI is trading at around $0.06, representing a new all-time low.
The latest retreat follows a controversial proposal that was initially submitted to World Liberty governance in mid-April and was voted on on April 29.
The plan covers more than 62 billion locked WLFI tokens, which would remain off the market for at least two years if approved. Founders, team members and partners could move up to 45.2 billion units into a new two-year lock-up, 4.5 billion of which would be burned if they chose to opt in.
Early proponents reportedly transferred up to 17 billion coins to one location and then acquired them without any burn. The proposal will remain open for voting until May 6 and, to date, 99.94% of participants have supported it.
WLFI’s association with Donald Trump and his entourage fueled backlash following the token’s collapse, with some analysts saying the connection contributed to the heavy losses suffered by investors.
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X user Carl Moon told his 1.5 million followers that “the Trump family has ruined crypto,” recalling that other POTUS-linked tokens, including TRUMP and MELANIA, have crashed by more than 90% since their launch.
Extra drama
Aside from the controversial proposal, WLFI recently made headlines after Justin Sun filed a lawsuit against the project. The Tron founder alleged that some team members froze all his tokens, deprived him of his voting rights, and even threatened to burn his assets without proper justification.
Even as he continues the project, Sun said he remains a strong supporter of President Trump and his administration’s “efforts to make America crypto-friendly.”
WLFI also attracted attention after reports surfaced that one of its partners had previously been linked to an alleged international fraud syndicate. The blockchain network in question is called AB and entered into an agreement with World Liberty Financial in November last year.
