World Liberty Financial (WLFI), affiliated with Donald Trump, executed a $4.5 million cryptocurrency transfer that has raised eyebrows. This transaction sparked questions regarding potential institutional custody shifts.
WLFI Fund Transfer
WLFI transferred $4.51 million in cryptocurrency to a new wallet. Within 45 minutes, the company moved significant amounts of AVAX, MOVE, and SEI tokens, possibly indicating a custody arrangement through Binance’s institutional arm, Ceffu. This transfer included 103,911 AVAX tokens worth $2.06 million, 7.58 million MOVE tokens valued at $1.27 million, and 5.98 million SEI tokens totaling $1.18 million. The MOVE tokens were directly sent to Ceffu, hinting at a custody setup.
Support for USD1 Stablecoin Airdrop
WLFI proposed a test airdrop for its new stablecoin, USD1. The vote received overwhelming support with 99.97% of total votes, equating to nearly 2.6 billion WLFI tokens. While the test airdrop date remains unscheduled, WLFI emphasizes its right to cancel or alter the plan at any moment. USD1 is designed to be a fully backed digital asset supported by short-term U.S. Treasuries and other high-quality reserves.
Senate Probe into WLFI
Senator Richard Blumenthal has initiated a probe into Trump-linked crypto ventures over potential ethical and legal issues. He sent inquiry letters to WLFI’s Zach Witkoff and Fight Fight Fight LLC’s Bill Zanker, citing concerns about ethics breaches and possible transactions involving foreign nationals under federal investigation.
WLFI remains under regulatory scrutiny as its cryptocurrency activities and new stablecoin proposal could significantly impact its future.
