BRIEF
World Liberty Financial has locked in retail investors, borrowing $75 million against their own token on their CTO’s lending protocol: Dolomite.
Table of Contents
Good morning,
WLFI told token holders they’re reinventing the financial system…
Meanwhile, they're running the playbook every epically collapsed token ran before it.
Yeah, I said it,
Austin Campbell
Teaching students at NYU Stern
Teaching c-suites at Zero Knowledge
ZERO IN
BACK UP
🤷♂️ WTF ARE THE TRUMPS DOING?
WLFI is the Trump fam (until they were scrubbed from the website) crypto project. WLFI token is $WLFI. WLFI stablecoin is $USD1 ( ▼ 0.01% ).
Dolomite is where the Trump fam can cash out using other people’s money.
WLFI collateralized the unlocked $WLFI on Dolomite → borrowed $75M in stablecoins → sent $40M+ to Coinbase Prime, the institutional OTC venue where crypto gets converted to USD and wired to a bank.
BREAKDOWN
🧭 DOL-LOCKED-MITE
$WLFI tokens are locked, forcing holders into a two-year cliff and three-year linear vest. If they accept. If not, their tokens stay locked indefinitely.
In seven months, WLFI’s goalposts have moved three times:
Sept 2025: tokens unlock & trading begins
April 2026: 2-year cliff + 3-year vest + 10% burn
With each revision shrinking retail’s exit, but widening WLFI execs.
Decentralization theater? Legitimately decentralized protocols offer at least:
1/ real protections against unilateral freezing of assets
2/ governance with little or no control over depositor funds
BAG HOLDERS
RETAIL (+ THE WHALE WHO WAILS)
$WLFI’s token is down by 82% with the exit doors locked.
Including Justin Sun, $WLFI’s biggest bag holder ($75M) who wilded out:
and is now suing World Liberty!
WLFI’s response:
When your biggest known backer calls your thing a "trap masquerading as a door," and the response is along the lines of "see you in court"
…and then you LITERALLY end up in court? WTF!?
ZERO OUT
DECENTRALIZATION THEATER
WLFI wears the cloak of a crypto project, signaling a "pro-crypto" Trump administration while selling the masses no meaningful governance
with most peoples’ tokens locked into a two-year (or indefinite!) waiting room...only so the WLFI can cash out using a channel one of them controls.
Why would anyone agree to this?
Well, they wouldn’t (which is why WLFI took away their ability to choose!)
& When Justin Sun is closer to right? Wet, swampy ethical ground. All around.
Blockchain will suffer with the behavior of bad / unethical actors , but the beauty of this technology is: it’s the reason any bad behavior is visible at all.
ZERO INSIDER
Joined Law of Code with Jacob Robinson to talk about the $280M Drift Protocol hack & Circle’s call not to freeze the stolen USDC. 1 week later? Called it. Class action.
Talked to Wajahat Ali ahead of OpenAI’s planned IPO, on why this is a WeWork 2.0.
