The World Liberty Financial (WLFI) crypto project, backed by the Trump family, has recently expanded its portfolio by adding 4.89 million SEI tokens valued at $775,000. This move was revealed through onchain data obtained from blockchain analytics firm Arkham Intelligence, showing that the purchase was made on April 12 by one of WLFI’s trading wallets using USDC transferred from the project’s main wallet. This trading wallet has been previously used by WLFI to accumulate other altcoins.
WLFI's portfolio is quite diversified, including popular cryptocurrencies like Bitcoin (BTC) and Ether (ETH) along with a variety of altcoins such as Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX), and now Sei (SEI). According to blockchain researcher Lookonchain, WLFI has spent a total of $346.8 million accumulating 11 different tokens. However, as of April 12, the project has yet to see a profit on any of them. Notably, its Ethereum investments alone are currently down over $114 million, leading to an overall portfolio loss of $145.8 million.
Interestingly, two months ago, Eric Trump, son of former President Donald Trump, encouraged his followers to buy Ether in a tweet. Despite his optimism, Ether's price has since fallen by 55% from the time of his tweet. This highlights the volatile nature of the cryptocurrency market and the risks associated with investments.
In another development, the icon for WLFI’s stablecoin, USD1, has been spotted on major exchanges like Coinbase, Binance, and CoinMarketCap, hinting at an unofficial logo unveiling for the coin. However, WLFI has made no official announcement regarding the logo change, sparking speculation among observers.
The involvement of the Trump family with USD1 has raised concerns and criticism from lawmakers on both sides of the US political spectrum. During an April 2 US House Financial Services Committee hearing on stablecoin legislation, Democratic Representative Maxine Waters suggested that President Trump might be planning to use USD1 to potentially replace the US dollar. This speculation has stirred controversy, with Republican chair French Hill expressing concerns about the potential implications of such a move.
Overall, WLFI's recent activities and the controversies surrounding its stablecoin project highlight the complexities and uncertainties in the crypto space, especially when intertwined with political figures. The future of WLFI and its investments will be closely monitored by industry watchers and regulators alike.
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