World Liberty Financial (WLFI), a DeFi initiative associated with US President-elect Donald Trump, has addressed concerns regarding recent $60 million worth of Ethereum transactions.
On January 15, the project clarified that these moves are part of its day-to-day financial management, dispelling speculation of an asset sale.
It stated:
“To be clear, we are not selling tokens, but merely reallocating assets for normal business purposes. There is no need to guess. This is all standard practice for business management at WLFI.
These comments come from blockchain analytics platform Lookonchain, which revealed a series of high-value transfers by WLFI.
According to the platform, DeFi projects converted 103 wraps of Bitcoin (WBTC) worth $9.89 million into 3,075 Ethereum (ETH). He then deposited 18,536 ETH worth approximately $59.8 million into Coinbase. WLFI then spent $1.7 million on Tether (USDT) to acquire 17.62 WBTC at $96,491 per token.
These transactions followed several recent DeFi token accumulations by the project, including Aave, Chainlink, and Ondo. However, Lookonchain pointed out that WLFI suffered a loss of $5 million due to recent asset allocation.
Meanwhile, at the time of writing, WLFI has approximately $16.7 million in various assets stored in its wallet, according to data from Arkham Intelligence.
What’s next for WLFI?
This activity marks the first significant transaction since December, when WLFI expanded its portfolio with various DeFi tokens. We also received approval for a community-sponsored proposal to launch a custom Aave v3 instance for the platform.
Despite this progress, the project has not received much attention on social media and few updates have been provided.
World Liberty Financial envisions itself as a DeFi hub where users can lend, borrow, and invest digital assets.
The project originally aimed to raise $300 million during the token sale, but faced funding challenges and scaled back its goal to $30 million. This goal was achieved with the support of crypto investor Justin Sun.
After Trump won the November election, the project saw its token profits surge 81%, now totaling $80.2 million, according to data from Dune Analytics.
