World Liberty Financial, a DeFi platform connected to former U.S. President Donald Trump, shifted over $350 million in cryptocurrencies, including Ethereum and Wrapped Bitcoin. These transactions have raised questions among analysts.
Transfers and Treasury Management
Arkham Intelligence reports that the moved assets encompassed Ethereum, Wrapped Bitcoin, and other Ethereum-based tokens. The platform insists this is part of routine treasury management and operational expenses. 'We are not selling tokens—we are simply reallocating assets for ordinary business purposes,' stated World Liberty Financial.
Crypto Outflows and Exchange Transfers
Blockchain data reveals that a significant portion of assets was sent to various wallets, with a large share of Ethereum deposited into a Coinbase Prime wallet. This has fueled speculation of potential asset sales on the exchange. World Liberty Financial's balance plummeted from over $400 million to around $33 million following these moves.
Token Swaps and Trump Family Plans
According to Blockworks, WLFI may engage in token swaps with various crypto projects. Anonymous sources claim the platform intends to sell at least $10 million worth of WLFI tokens. However, World Liberty Financial continues to deny major sell-offs, emphasizing these transactions align with its long-term strategy. Donald Trump serves as the project's Chief Crypto Advocate, while his sons are Web3 Ambassadors. Eric Trump sparked interest by tweeting, 'In my opinion, it’s a great time to add $ETH.'
Despite successful transactions, World Liberty Financial continues to face criticism. Former White House communications director Anthony Scaramucci called the project a 'scammy grift,' expressing concerns over potential harm to the cryptocurrency industry's reputation.
