World Liberty Monetary Inc. blacklists 272 crypto addresses to counter market abuse.
- WLFI blacklists 272 addresses amid market manipulation suspicions.
- Ryan Fang cites suspected worth manipulation by massive holders.
- Quick impacts noticed on WLFI token worth and liquidity.
World Liberty Monetary Inc. blacklisted 272 addresses in per week to counter suspected manipulation, impacting WLFI token costs, prompted by potential unauthorized buying and selling on main exchanges.
The blacklisting raised considerations about centralization in cryptocurrency markets, affecting WLFI’s worth and investor belief, highlighting challenges in balancing market safety and consumer freedoms.
On-chain knowledge reveals WLFI blacklisted 272 addresses over seven days. The transfer goals to handle considerations relating to potential market manipulation. World Liberty Monetary Inc., backed by the Trump household, is on the heart of those actions. Twitter link
The blacklist is part of WLFI’s efforts to counter suspected price manipulation activity. Ryan Fang, Growth Lead at WLFI, has been vocal about suspicions of manipulation by large holders. He stated that no concrete evidence has been discovered yet.
“We suspect that some large holders and centralized exchanges may have manipulated WLFI’s price by moving user tokens to higher-liquidity venues for selling and opening large short positions. While no concrete evidence has been found…”
— Ryan Fang, Growth Lead, WLFI
The market reaction to these actions has resulted in increased volatility for the WLFI token. The token’s price dropped to $0.1611, with the incident impacting liquidity and potentially affecting ETH, USDT, and TRON-based assets. Twitter link
The blacklist has prompted discussions about control in decentralized finance. ZachXBT noted WLFI’s proactive approach, although caution was advised against the dangers of potential mistakes in this blacklisting strategy.
The absence of updates from regulatory bodies such as the SEC underlines the informal and decentralized nature of blacklisting decisions. Concerns have been raised about the potential overreach of such measures within custodial DeFi ecosystems.
Financial and technological outcomes remain speculative, though historical trends suggest potential challenges. WLFI’s market maneuver may impact investor confidence and liquidity patterns. Industry experts will be keenly observing any technical adaptations that arise from this situation. Twitter link