Crypto: Essential Guide: Justin Sun blasts Trump-linked WLFI's 'absurd' governance vote, escalating feud

Crypto: Essential Guide: Justin Sun blasts Trump-linked WLFI's 'absurd' governance vote, escalating feud

A public dispute between Tron founder Justin Sun and Trump-linked crypto project WLFI$0.08074 escalated Wednesday after Sun sharply criticized a new governance proposal, calling it "one of the most absurd governance scams" he has seen. In a lengthy post on X, Sun accused the project of designing a vote that punishes dissent, with token holders who vote against the proposal risking having their tokens locked indefinitely. He also claimed he and other large holders had been excluded from the process, alleging that tokens tied to roughly 4% of voting power under his control had been frozen. More broadly, Sun questioned whether the vote has any real authority, claiming control over the protocol sits with anonymous wallet addresses, including a multisignature setup that can override outcomes and a separate account with the power to blacklist users. "This proposal is not governance," Sun said in the post. "It is an exercise of power by the selected few who are carefully engineering a further power consolidation and property expropriation operation." The criticism centers on WLFI's new proposal that would overhaul token lockups across the ecosystem. More than 62 billion WLFI tokens would be subject to new terms, including multi-year lockups and vesting schedules. Under the plan, tokens held by insiders — such as team members, advisors and partners — would face a two-year lockup followed by a three-year gradual release, alongside a 10% token burn upon opting in. Early supporters would face slightly shorter vesting terms but no burn. In total, up to 4.5 billion tokens could be permanently destroyed. Holders who do not accept the new terms would remain locked indefinitely, per the proposal.

Source: CoinDesk