WLFI Token Criticized for Centralization and Zero Utility

Critics have raised alarms over the WLFI token, labeling it a highly centralized meme coin with no real utility and an apparent profit-driven agenda. The project’s nine co-founders include the Trump family as marketing figureheads, while operational and technical control rests with controversial figures like Chase Herro and Zach Folkman, both with criminal or scandalous backgrounds. WLFI token allocation is extremely skewed: 40% of the supply sits with six wallets, over 60% under a handful of multi-sig addresses, leading to violent price swings and insider sell-offs totaling hundreds of millions in early hours. Its sister USD1 stablecoin boasts a $2.7 billion market cap, yet 93% of its supply is parked on Binance and has low real-world usage. Further scrutiny reveals sloppy website disclosures, erratic governance authority, and opaque token distribution. Traders are warned to avoid WLFI token, secure any profits, and steer clear of its high risks.