World Liberty advisor faces six-figure loss after shorting $TRUMP on Trump-Musk fallout

WLFI on Thursday sent a cease-and-desist letter to the meme coin's team over its unauthorized Trump-branded wallet.Key Takeaways

• World Liberty's advisor lost over $100,000 by shorting $TRUMP.
• The advisor utilized 10x leverage with 1 million USDC on Hyperliquid.

A wallet believed to belong to Ogle, the pseudonymous crypto influencer and advisor to World Liberty Financial, has posted unrealized losses exceeding $100,000 after betting against the $TRUMP meme token, according to data tracked by Lookonchain.

Looks like Trump's World Liberty (@worldlibertyfi) is airdropping 47 $USD1 to every wallet that participated in the $WLFI sale.

— Lookonchain (@lookonchain) June 4, 2025

Ogle reportedly opened a 10x leveraged short on $TRUMP at an entry price of $9.4, with a liquidation level set at $12.49. Although the meme coin briefly dipped below the entry point, it has since rebounded above that level.

$TRUMP is currently trading at around $9.8, down approximately 10% over the past 24 hours, according to CoinGecko data.

President Trumps official coin dropped below $10.5 on Thursday afternoon following fresh legal drama and political heat.

World Liberty, strongly backed by the Trump family, including Donald Trump Jr. and Eric Trump, issued a cease-and-desist letter to Fight Fight Fight, the team behind the Official Trump coin, and to Magic Eden, over their development of an unaffiliated Trump-branded crypto wallet, per Bloomberg.

After the wallets existence surfaced, Eric Trump threatened legal action, making it clear the Trump family had no connection to the initiative.

While prior interactions had blurred the lines between Trump-themed crypto projects, the family now insists they have no involvement in the crypto project and teased that their official wallet is coming soon.

Bearish momentum intensified later in the day after President Trump publicly pushed back against Elon Musks criticism of the “One Big Beautiful Bill,” a piece of legislation Trump has championed.

Musk responded swiftly, disputing Trumps statements and igniting what many are calling the most high-profile feud between two of the most influential figures in tech and politics.

Tensions between Trump and Musk spilled into the markets on Thursday, dragging down both traditional and crypto assets. Tesla shares plunged more than 15%, marking their worst single-day performance since September 2020, according to Yahoo Finance.

It wasnt just $TRUMP and $TSLA feeling the heat. The broader crypto market took a hit, with Bitcoin briefly dipping below $101,000.

Ethereum fell by around 7%, Solana dropped 5%, and both XRP and BNB slid approximately 4% as risk-off sentiment spread.

On a day when most things fell apart, Fartcoin (FARTCOIN) was an unexpected winner. The token soared over 10% after Coinbase put it on its listing radar.