World Liberty Financial has transferred over $350 million worth of cryptocurrencies, drawing public interest despite the company's claims of routine treasury management.
Crypto Transfers and Possible Reasons
World Liberty Financial moved over $350 million in cryptocurrencies from its multi-signature wallet. According to Arkham Intelligence, the assets included Ethereum, Wrapped Bitcoin, and other Ethereum-based tokens. Most of these assets were sent to Coinbase Prime, fueling speculation about potential sales on the exchange. The platform's treasury balance dropped from $400 million to approximately $33 million.
Statements and Denial of Rumors
Blockworks reported that World Liberty Financial might be engaging in token swaps with other projects. However, the platform denies major sell-offs, stating that the transactions align with their long-term strategy. Previously, the platform clarified that it wasn't selling tokens, explaining this as part of their treasury management.
Trump Family's Crypto Initiatives
World Liberty Financial is positioned as a pro-Trump DeFi platform, with former President Donald Trump as the 'Chief Crypto Advocate'. His sons are Web3 Ambassadors for the project. Recently, Eric Trump mentioned it was a good time to buy Ethereum, but later removed the statement.
Despite skepticism, World Liberty Financial continues its initiatives, maintaining ties with the Trump family and following its long-term strategy.
