Donald Trump-linked DeFi project clarifies $60 million ETH movement amid sell-off speculation

World Liberty Monetary (WLFI), a DeFi initiative linked to newly elected US President Donald Trump, has allayed considerations over latest $60 million Ethereum transactions.

On January 15, the mission clarified that the strikes have been a part of its routine money administration, dispelling hypothesis about asset gross sales.

It declared:

“To be clear, we don’t promote tokens – we merely redistribute property for atypical enterprise functions. These actions are supposed as a part of sustaining a powerful, safe and environment friendly treasury. There isn’t a want to invest: that is all normal follow for managing operations at WLFI.”

These feedback come from the blockchain analytics platform Lookonchain, which revealed a sequence of high-quality transfers by WLFI.

In response to the platform, the DeFi mission transformed 103 Wrapped Bitcoin (WBTC), price $9.89 million, into 3,075 Ethereum (ETH). It then deposited 18,536 ETH, price virtually $59.8 million, into Coinbase. Afterwards, WLFI spent $1.7 million on Tether (USDT) to amass 17.62 WBTC at $96,491 per token.

These transactions adopted the mission’s latest accumulation of a number of DeFi tokens, together with Aave, Chainlink, and Ondo. Nonetheless, Lookonchain famous that WLFI has incurred a $5 million loss from its latest asset allocations.

Within the meantime, facts from Arkham Intelligence exhibits that WLFI’s pockets accommodates roughly $16.7 million in varied property on the time of writing.

What’s subsequent for WLFI?

This exercise marks WLFI’s first important transaction since December, when it expanded its portfolio with a variety of DeFi tokens. It additionally adopted the approval of a community-supported group proposal to launch a customized Aave v3 occasion for its platform.

Regardless of this progress, the mission has maintained a low profile on social media with few updates accessible.

World Liberty Monetary sees itself as a DeFi hub the place customers can lend, borrow and spend money on digital property.

Whereas the mission initially sought to boost $300 million within the token sale, it scaled again its goal to $30 million after dealing with fundraising challenges. This aim was achieved with the help of crypto investor Justin Solar.

Following Trump’s election victory in November, the mission noticed an 81% enhance in token income, which now complete $80.2 million, in keeping with Dune Analytics. facts.

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