Crypto

$WLFI Tokens Flood into Binance as BitForex Founder Seeks Liquidity

Guavy AI Editorial Team Published August 17, 2026

Instruments

BNB

Garrett Jin, founder of the troubled cryptocurrency exchange BitForex, has made a significant move by transferring 17 million $WLFI tokens to Binance. According to on-chain data analyzed by EmberCN, this transfer occurred just six hours ago and totals approximately $1.01 million in value.

The $WLFI token has seen significant price volatility, trading at around $0.05952 as of now. If Jin were to sell the tokens at current prices, he would incur a loss of about 40% from the original purchase price.

This move comes amid ongoing scrutiny of BitForex, which halted withdrawals in early 2024 due to alleged fraudulent activities. The transfer may signal an intention to cut losses on a depreciating asset or access liquidity.

The Wire

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