WLFI's Deletion Sparks Crash Speculation: Trust Crisis in a Bear Market
Amid a bearish market sentiment, the deletion of a tweet by Eric Trump, co-founder of World Liberty Financial (WLFI), triggered widespread speculation and panic. On February 23, Eric Trump retweeted and then deleted a post about Binance listing more USD1 trading pairs. This action led to a temporary depegging of USD1 to 0.9802 against USDT and a nearly 10% drop in WLFI’s price, though both later recovered.
The incident fueled FUD (fear, uncertainty, and doubt) on social media, with rumors suggesting Eric had purged all crypto-related tweets or that internal issues plagued the Trump family. WLFI quickly responded, claiming it was a coordinated attack where hackers breached multiple co-founders’ accounts, spread panic, and attempted to profit by shorting WLFI. They later clarified that only X accounts were compromised, not WLFI or USD1 contracts.
However, skepticism arose. Observers noted that only one retweet was removed—not a mass deletion—and no significant shorting activity was detected. Some linked the event to an upcoming major investigation announcement by on-chain detective ZachXBT, though market data did not strongly tie it to WLFI. Critics also questioned WLFI’s narrative, suggesting the “hack” claim might be a cover-up or misdirection.
The event highlights the crypto community’s heightened sensitivity and distrust during bear markets, where minor actions can spark exaggerated reactions and conspiracy theories.
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