President Trumps Son Issues Epic Ethereum Endorsement, Declares Now Is The Perfect Time To Buy ETH
Ethereum has been in a downtrend in recent weeks since slumping below the $4,000 psychological threshold in mid-December. The worlds second most valuable crypto has since fallen by over 20%, changing hands at $2,790 at the time of writing.
Nevertheless, the Donald Trump-linked DeFi protocol World Liberty Financial and President Trumps second son, Eric Trump, continue to be bullish on Ether. Notably, World Liberty Financial keeps scooping up more ETH. The venture accumulated 86,000 ETH yesterday, pushing its total stockpile to $421 million as of Feb. 2, with Ethereum constituting 65% of its portfolio.
In a post on X, Eric told his 5.5 million followers on X that its a great time to add ETH.
In my opinion, its a great time to add $ETH. You can thank me later, he said, before later modifying the post to remove the you can thank me later phrase.
Erics comments came after a Trump tariffs-spurred crypto meltdown on Feb. 2 and Feb. 3, which saw Ether plunge 20% to a local low of $2,460. The altcoin king has since recovered slightly after his father agreed to pause the planned implementation of the trade tariffs aimed at Canada and Mexico as negotiations with the countries continue.
Trump-Backed World Liberty Financial Disputes Allegations Of Selling ETH
Arkham Intelligence data shows that World Liberty Financial moved millions worth of ETH and SETH to a Coinbase Prime deposit address.
The projects treasury, which held roughly $421 million in assets on Sunday based on Arkham Intelligences portfolio archive tool, now holds around $33 million in total assets.
However, World Liberty Financial dismissed claims of selling its assets despite the volatile market movements.
Were 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, the protocol posted on X (formerly known as Twitter). To be clear, we are not selling tokens we are simply reallocating assets for ordinary business purposes.
Transferring tokens to a centralized exchange usually indicates an intention to dump, but given Eric Trumps bullish tweet, it could seem like World Liberty Financial is holding ETH for the long haul.
Text source: ZyCrypto
