Controversial influencer Andrew Tate suffered a $67,500 liquidation on his World Liberty Financial (WLFI) long position on Hyperliquid, according to on-chain data from Lookonchain. Despite this setback, Tate immediately reopened a new long position with 960,128 WLFI tokens, demonstrating continued confidence in the Trump-affiliated project.
The liquidation occurred amid significant volatility for WLFI following its recent exchange debut. The token opened at $0.31, briefly peaked at $0.46, then crashed 56.5% to approximately $0.20. This sharp decline was attributed to large-scale sell-offs from major holders shortly after trading began, raising concerns about insider activity.
In response to the price pressure, the World Liberty Financial team has proposed a governance measure to use 100% of protocol-owned liquidity fees from Ethereum, BNB Chain, and Solana to buy back and permanently burn WLFI tokens. With a fixed total supply of 100 billion tokens, this mechanism would make WLFI deflationary over time, potentially increasing value for long-term holders.
Tate's WLFI loss contributes to his nearly $700,000 in cumulative losses on Hyperliquid, yet he continues his high-risk trading strategy, previously including a short position on Kanye West's YZY token that also resulted in losses.