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🐳 Daily Edition: Trump Catches Fire From WLFI Investors, Alleging Billions in Losses

🐳 Daily Edition: Trump Catches Fire From WLFI Investors, Alleging Billions in Losses

While many of us have been yapping about it for months into the void, the Trump family's crypto escapades have finally hit the mainstream

Beluga & Will McKinnon
April 13, 2026

A new front has appeared in Trump’s war, but this time it’s on the blockchain rather than a battlefield. Last Thursday, news broke that the Trump-backed World Liberty Finance team had deposited about $450M in WLFI to lending protocol Dolomite, proceeding to then borrow $75M in stablecoins with the majority immediately sent to Coinbase Prime. While it’s impossible to know for sure what was done with those funds, the obvious implication is the team was cashing out.

24 Hour Heatmap, Source: CoinMarketCap

This brought renewed attention on WLFI, prompting its largest investor Justin Sun to go public accusing the team of treating the community as a personal ATM. Sun’s allocated tokens were frozen by the team with little explanation last April, which was made possible through an upgrade to the underlying smart contract done well after investors had pooled their capital. WLFI responded by threatening legal action, posting a cocky “see you in court” late Sunday night.

Believe it or not, things got even worse for WLFI after the Justin Sun allegations, as cybersecurity researcher Peter Girnus posted one of the most blistering exposés I’ve ever read. The post is written as if he were a member of the WLFI team, detailing how 600,000 wallets bought the TRUMP memecoin, launched just 3 days before his inauguration, and have so far lost a collective $3.87B on the President’s own token. Oh, and 80% of the supply went to entities controlled by the Trump family.

He further points out that 75% of all revenues go to a Trump family entity called DT Marks DEFI LLC, despite zero capital contribution. If that wasn’t damning enough, he went on to name several well-known crypto operators including Justin Sun himself who were pardoned under dubious circumstances. He also exposed the open secret of an Abu Dhabi fund that had paid $500M for a 49% stake in World Liberty, which had never been publicly disclosed by the team.

I know this is longer than usual so we’ll wrap it up here, but if you’re reading this I encourage you to go research the story for yourself; I’ve truly never seen like it, and I think I speak for most of us when I say this isn’t exactly what I’d hoped for from a pro-crypto President.