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Cryptoprowl / World Liberty Financial sold an additional 5.9 billion WLFI tokens to accredited private investors after raising more than $550 million across two earlier fundraising rounds, adding another layer of scrutiny to a project already facing frustration from early holders. The later sales were worth hundreds of millions of dollars, with much of the proceeds directed to founder-affiliated entities, according to the review.

The concern is not just that more tokens were sold. It is that many earlier buyers still have limited access to the assets they purchased. A separate governance proposal released in April would keep 80% of early investor holdings locked for two years, followed by another two-year vesting period, delaying full access for holders of roughly 17 billion tokens until 2030.

That structure has sharpened investor frustration around transparency, governance and supply control. Early buyers were initially allowed to trade only 20% of their WLFI holdings after token tradability began, while the rest remained subject to future unlock decisions. 

Reuters reported that World Liberty said the proposal was designed to support long-term participation and healthier market supply, but investors have complained that the project’s governance remains highly centralized and that larger wallets hold outsized influence.

The pressure has also spilled into litigation. Justin Sun, one of the project’s largest early backers, sued World Liberty Financial last month, alleging the company froze and threatened to destroy tokens he owned. World Liberty’s CEO Zach Witkoff called Sun’s claims “entirely meritless” and said the company acted to protect itself and users. 

For WLFI holders, the larger issue is now clearer than the original sales pitch: the token may trade publicly, but access, control and governance remain central questions for the market to price.

World Liberty Financial (CRYPTO: $WLFI ) is currently trading at $0.055 U.S. per digital token.