World Liberty Financial (WLFI), a cryptocurrency project supported by the Trump family, has recently bought 4.89 million SEI tokens, equivalent to a $775,000 investment. This information is based on onchain data analysis.
Arkham Intelligence, a blockchain analytics firm, reveals that the purchase was executed on April 12th, utilizing one of WLFI’s trading wallets. This wallet was funded with USDC transferred from the project’s primary wallet. It’s worth noting that this same wallet has been used by WLFI in the past for purchasing other altcoins.
In addition to Bitcoin (BTCUSD) and Ether (ETHUSD), WLFI’s diversified portfolio includes a vast number of altcoins, such as Tron (TRXUSD), Ondo Finance (ONDO), Avalanche (AVAXUSD), and now Sei (SEI).
Blockchain research company Lookonchain reports that WLFI has invested a total of $346.8 million in 11 different tokens. As of April 12, however, the project has yet to reap any profits from these investments. Specifically, the project’s Ethereum investments have depreciated by over $114 million. Overall, WLFI’s portfolio is down by $145.8 million.
In a tweet dated February 3, Eric Trump, son of Donald Trump, advocated for buying Ether. However, since his endorsement, the price of ETH has dropped by 55%, currently trading at $1,611, a significant decrease from its February 3 closing price of $2,879.
Interestingly, an icon for WLFI’s stablecoin, USD1, has surfaced on crypto exchanges like Coinbase and Binance, as well as on the crypto aggregator site CoinMarketCap. This development is perceived as an informal unveiling of the coin’s logo despite the absence of an official announcement from WLFI.
The Trump family’s involvement with USD1 has sparked controversy among US lawmakers. During a recent hearing on stablecoin legislation by the US House Financial Services Committee, both Democratic Representative Maxine Waters and Republican chair French Hill expressed their concerns over possible conflicts of interest.
