The Trump family-backed crypto undertaking World Liberty Monetary (WLFI) has added 4.89 million SEI tokens valued at $775,000 to its portfolio, in keeping with onchain information.
Information from blockchain analytics agency Arkham Intelligence exhibits the acquisition was made on April 12 by one in all WLFI’s buying and selling wallets utilizing USDC transferred from the undertaking’s primary pockets. It’s the identical buying and selling pockets beforehand utilized by WLFI to build up different altcoins.
WLFI holds a diversified portfolio, together with Bitcoin (BTC), Ether (ETH), and a bigger variety of altcoins, reminiscent of Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX) and now Sei (SEI).
In response to blockchain researcher Lookonchain, WLFI has spent a complete of $346.8 million accumulating 11 completely different tokens, however as of April 12, it has but to see a revenue on any of them. The undertaking’s Ethereum investments alone are at present down over $114 million.
General, Lookonchain says WLFI’s portfolio is down $145.8 million.
World Liberty Monetary’s present on-paper revenue/loss on its altcoins. Supply: Lookonchain
Solely two months in the past, in a Feb. 3 X submit, Donald Trump’s son, Eric Trump, urged his followers to purchase Ether, writing: “For my part, it’s a good time so as to add $ETH.” Initially, the tweet additionally included “you’ll be able to thank me later,” but it surely was edited to take away these 5 phrases.
On the time of writing, information from CoinGecko confirmed ETH’s worth had fallen 55% since Eric Trump’s tweet, at present buying and selling at $1,611, down from the Feb. 3 shut of $2,879.
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WLFI’s USD1 brand seems on main exchanges
In the meantime, an icon for WLFI’s stablecoin, USD1, has appeared on Coinbase, Binance and the crypto aggregator web site CoinMarketCap in what seems to be the coin’s unofficial brand unveiling.
WLFI has made no official announcement about USD1’s brand.
Observers speculate that is USD1’s new brand. Supply: Binance
Trump’s involvement with USD1 has attracted criticism from lawmakers on either side of US politics. At an April 2 US Home Monetary Companies Committee listening to on stablecoin laws, Democratic Consultant Maxine Waters urged President Trump could also be finally planning to make use of USD1 to switch the US greenback.
“Trump probably needs your complete authorities to make use of stablecoins, from funds made by the Division of Housing and City Improvement to Social Safety funds to paying taxes. And which coin do you assume Trump would exchange the greenback with? His personal, in fact.”
The committee’s Republican chair, French Hill, aired comparable issues.
“If there isn’t any effort to dam the president of america of America from proudly owning his stablecoin enterprise […] I’ll by no means be capable of agree on supporting this invoice, and I might ask different members to not be enablers.”
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