Donald Trump-linked DeFi project clarifies $60 million ETH movement amid sell-off speculation
World Liberty Financial (WLFI), a DeFi initiative linked to US President-elect Donald Trump, has addressed concerns about recent Ethereum transactions worth $60 million.
On Jan. 15, the project clarified that the movements are part of its routine treasury management, dispelling speculations of asset sales.
It stated:
To be clear, we are not selling tokenswe are simply reallocating assets for ordinary business purposes. These actions are intended to be part of maintaining a strong, secure, and efficient treasury. No need to speculatethis is all standard practice for managing operations at WLFI.
These comments come from the blockchain analysis platform Lookonchain, which revealed a series of high-value transfers by WLFI.
According to the platform, the DeFi project converted 103 Wrapped Bitcoin (WBTC), valued at $9.89 million, into 3,075 Ethereum (ETH). It then deposited 18,536 ETH, worth nearly $59.8 million, into Coinbase. Afterward, WLFI spent $1.7 million in Tether (USDT) to acquire 17.62 WBTC at $96,491 per token.
These transactions followed the projects recent accumulation of several DeFi tokens, including Aave, Chainlink, and Ondo. However, Lookonchain noted that WLFI has incurred a $5 million loss from its recent asset allocations.
Meanwhile, data from Arkham Intelligence shows that WLFIs wallet holds approximately $16.7 million in various assets at press time.
What next for WLFI?
This activity marks WLFIs first significant transaction since December when it expanded its portfolio with a range of DeFi tokens. It also followed the approval of a community-backed proposal to launch a custom Aave v3 instance for its platform.
Despite this progress, the project has maintained a low profile on social media, offering few updates.
World Liberty Financial envisions itself as a DeFi hub where users can lend, borrow, and invest in digital assets.
While the project initially sought to raise $300 million during its token sale, it scaled back its target to $30 million after facing fundraising challenges. This goal was achieved with support from crypto investor Justin Sun.
Following Trumps November election victory, the project experienced an 81% surge in token profits, now totaling $80.2 million, according to Dune Analytics data.
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Text source: CryptoSlate
