World Liberty Financial (WLFI), the Trump-backed crypto project, sent shockwaves through the market after scooping up nearly 5 million SEI tokens – triggering an immediate 27% price surge. The $775,000 purchase, executed through WLFI’s known trading wallet using USDC, marked yet another bold move in the project’s aggressive altcoin strategy.
Talk about making an entrance. The acquisition set crypto Twitter ablaze, with traders scrambling to catch the SEI wave as trading volumes exploded. Not bad for a token that wasn’t even on most people’s radars before the Trump-associated project came knocking. Users can now earn additional returns through staking rewards on their SEI holdings.
But here’s the kicker – WLFI’s own portfolio isn’t exactly crushing it. The project is sitting on a whopping $145.8 million in losses, with their Ethereum holdings alone down $114 million. Ouch. Their total portfolio, spread across 11 tokens including heavy-hitters like BTC, ETH, and AVAX, is valued at $346 million. Not exactly the “art of the deal” they were probably hoping for. Like most centralized exchanges, WLFI maintains strict security protocols with cold storage solutions for user funds.
The SEI grab comes as WLFI continues its shopping spree across the crypto landscape, using stablecoins to hoover up everything from blue-chip assets to emerging altcoins. The project, managed under DT Marks DEFI LLC, has kept blockchain analysts busy tracking their every move. The platform’s USD1 stablecoin maintains reliability through its 100% treasury backing structure.
The Trump connection hasn’t exactly hurt their ability to attract institutional interest. DWF Labs just dropped $25 million into WLFI tokens, apparently unfazed by the project’s underwater positions. Meanwhile, lawmakers are side-eyeing WLFI’s proposed USD1 stablecoin, worried about its potential impact on monetary policy.
Eric Trump’s public crypto cheerleading hasn’t exactly calmed the waters. The project’s massive losses and high-profile investments have crypto Twitter divided – half pointing fingers, half grabbing popcorn.
One thing’s for sure: when a Trump-backed project makes moves, the market pays attention. Whether that attention translates to profits? Well, that’s another story entirely.
