Shocked - but not surprised - at the number of clients who are planning on moving overseas as a consequence of the budget changes to CGT and trust taxation. I am fielding daily calls from HNW clients. And this isn't an emotional outburst: you call your tax lawyer to plan, not to vent. There is going to be a massive capital outflow from Australia.
Today, I filed a lawsuit in California federal court against World Liberty Financial to protect my legal rights as a holder of $WLFI tokens.
I have always been—and remain—an ardent supporter of President Trump and his Administration’s efforts to make America crypto friendly. This lawsuit does not change how I feel about President Trump or the Trump Administration.
Unfortunately, certain individuals on the World Liberty project team have been operating the project in a manner that goes against President Trump’s values. They wrongfully froze all of my tokens, stripped me of my right to vote on governance proposals, and have threatened to permanently destroy my tokens by “burning” them—all without any proper justification. I do not believe President Trump would condone these actions if he knew about them.
I have tried in good faith to resolve this situation with the World Liberty project team without resorting to litigation. But the project team has refused my requests to unfreeze my tokens and restore my rights as a token holder. They have left me with no choice but to turn to the courts.
All I want is to be treated the same as every other early investor who received tokens—no better, no worse.
I also want the community to know that I strongly oppose the new governance proposal World Liberty published on April 15.
If it passes, token holders who do not “affirmatively accept” its terms—including a requirement that 10% of all advisor tokens be permanently burned—will have their tokens locked indefinitely.
For early purchaser tokens, the proposal imposes a two-year cliff followed by a two-year vesting schedule—and again, for those who do not affirmatively accept, their tokens are locked indefinitely.
This proposal is bad for the community, but because World Liberty has frozen my early investor tokens, I cannot vote them for or against the proposal.
I believe in fairness, transparency, and the principles that make crypto powerful. I will continue to fight for those principles. 🙏
@worldlibertyfi Just when you think you can't get much worse you go drop something like this? What a load of 💩 you deffs have no idea of growth. Noone is going to invest in this project. The only way forward is fire yourselves and let the community run this project.
I am calling on World Liberty Financial @worldlibertyfi to publicly disclose who controls the single guardian EOA and the 3/5 multisig that govern the WLFI smart contract.
Every investor has the right to know who holds the power to freeze their assets.
Here is what on-chain records show: A single guardian EOA — which also sits on the multisig — blacklisted my wallet. That same address is the sole owner of a second guardian Safe with a threshold of 1.
This means one person — one single individual — has the unilateral power to freeze any token holder's assets. Seizing those assets requires a 3-of-5 multisig vote, but freezing requires only one signature.
Who is that person? The community deserves an answer.
Let me be clear about what this structure means: community governance and voting are meaningless. Every proposal, every vote, every claim of decentralized decision-making is theater. Real power — the power to freeze, to move funds, to control the protocol — sits with one anonymous EOA and a 3-of-5 multisig that answers to no one. The entire governance framework has been hollowed out from the inside.
A project that claims to stand for decentralization and financial freedom cannot concentrate this level of power in a single anonymous address. If the WLFI team has nothing to hide, they should have no difficulty identifying who controls these keys.