Consultant loses over $100 short-selling $TRUMP token

• World Liberty Advisor Loses on $TRUMP Leverage
• $TRUMP Token Crashes After Trump-Musk Conflict
• Cryptocurrencies hit by political and legal tensions

The recent escalation in the rivalry between Donald Trump and Elon Musk has had a direct impact on financial markets, including the cryptocurrency sector. The consultant known as Ogle, linked to World Liberty Financial, is said to have accumulated losses of more than US$100 after opening a highly leveraged short position in the $TRUMP token.

Looks like Trump's World Liberty ( @worldlibertyfi ) is airdropping 47 $USD1 to every wallet that participated in the $WLFI salt. https://t.co/kbyhK9usHQ pic.twitter.com/YT8Y7IpfpU

— Lookonchain (@lookonchain) June 4, 2025

According to data from Lookonchain, the wallet associated with Ogle used 10x leverage with $1 million in USDC on the Hyperliquid exchange, betting on the meme token’s decline. The trade was executed with an entry at $9,40 and a liquidation level set at $12,49. However, the asset’s price recovered above the entry point, trading around $9,80 this Friday.

$TRUMP’s negative move was fueled by legal developments involving the Trump family. World Liberty, backed by Donald Trump Jr. and Eric Trump, issued a formal notice to the team behind Trump’s official token and the Magic Eden platform, objecting to the use of the image and branding associated with the former president. Eric Trump has reiterated that the initiative has no ties to the family and has signaled legal action.

The environment became even more volatile after Donald Trump made public statements in defense of his legislative proposal, responding to criticism from Elon Musk. In response, the billionaire confronted Trump, intensifying the public dispute between the two, which reverberated in the markets.

In the wake of the conflict, traditional and crypto assets have seen significant losses. Tesla shares fell more than 15% in a single day. In the crypto market, Bitcoin was trading below $101.000. Ethereum fell 7%, while Solana, XRP and BNB fell between 4% and 5%.

One of the few positive highlights was Fartcoin (FARTCOIN), which appreciated more than 10% after being included on Coinbase's listing radar, bucking the general trend of risk aversion.