World Liberty Financial (WLFI), a decentralized finance platform linked to Donald Trump, moved over $350 million in cryptocurrencies. This action has raised questions and speculations about the platform's intentions.
Crypto Outflows and Exchange Transfers
According to Arkham Intelligence, WLFI transferred cryptocurrencies including Ethereum and Wrapped Bitcoin. Most of these funds were sent to unlabelled wallets, however, a significant portion of Ethereum was placed in a Coinbase Prime wallet, leading to speculation about potential sales on the exchange. WLFI's treasury held $400 million in early February, but following recent transfers, its balance has dropped to $33 million.
Rumors of Token Swaps and Cashing Out
Blockworks reports that WLFI may engage in token swaps with other crypto projects, planning to sell up to $10 million worth of WLFI tokens. WLFI denies these claims, stating that all transactions align with its long-term strategy. The platform has previously purchased over $100 million in Ethereum and Wrapped Bitcoin.
Trump Family’s Crypto Ambitions
World Liberty Financial presents itself as a pro-Trump platform. Eric Trump recently commented online that it’s a great time to add Ethereum, but later edited his post. The project faces criticism. Anthony Scaramucci described it as scammy, cautioning against potential harm to the cryptocurrency industry.
World Liberty Financial's cryptocurrency transfers have sparked various speculations and criticisms. Nonetheless, the platform maintains that all actions are aligned with its strategic plans and are not indicative of asset sales.
