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

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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.

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