World Liberty Financial Transfers $61.4M in Ethereum Amidst Market Challenges

user avatar

by Giorgi Kostiuk

2 years ago

World Liberty Financial, a notable crypto project, has moved $61.4 million in Ethereum as part of its treasury management practices.

Fund Transfers

Over the past 24 hours, $61.4 million worth of Ethereum was moved, with Arkham Intelligence confirming transfers to multiple wallets, including Coinbase Prime. WLFI stated that these movements are regular treasury practices and do not involve token sales.

We’re making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements.None

Further Transactions

Arkham Intelligence data showed additional transactions by WLFI’s wallet. These included swapping 103 Wrapped Bitcoin, worth about $10 million, for 3,075 ETH, and moving $59.8 million in Ethereum to Coinbase Prime and other wallets. WLFI also used $1.7 million in Tether to buy 17.62 WBTC at an average price of $96,49.

Project's Response

In mid-December, WLFI's wallet held $83 million, but at the time of this report, the balance had dropped to $17 million. The project attributes this to normal treasury management needs. Despite these changes, WLFI faces $4.8 million in unrealized losses due to volatility in its portfolio, including Ethereum, WBTC, Aave, and Chainlink. However, by not selling its assets, WLFI maintains a long-term investment perspective.

WLFI's treasury strategy underlines resilience amid market changes, reflecting the project's long-term vision.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

MARA Holdings Transfers 1,000 BTC to Exchanges Amid Market Scrutiny

MARA Holdings has transferred approximately 1,000 BTC to Binance and Gate over the past five days, raising questions about its treasury movements.

user avatarDavid Robinson

CryptoBilis Case Exposes Vulnerabilities in Hardware Wallets

The CryptoBilis case reveals vulnerabilities in hardware wallets, leading to $90 million in losses due to tampered devices.

user avatarMaria Gutierrez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.