World Liberty Financial (WLFI), a DeFi initiative associated with US President-elect Donald Trump, has recently come under scrutiny for Ethereum transactions worth $60 million. However, on Jan. 15, the project clarified that these movements were part of routine treasury management and not asset sales.
In a statement released on their official platform, WLFI emphasized that they were simply reallocating assets for ordinary business purposes to maintain a strong, secure, and efficient treasury. They assured the public that these actions were standard practice for managing operations at WLFI, dispelling any speculations of token sales.
The blockchain analysis platform Lookonchain shed light on these high-value transfers by WLFI. According to their findings, the DeFi project converted 103 Wrapped Bitcoin (WBTC) worth $9.89 million into 3,075 Ethereum (ETH) and deposited 18,536 ETH, valued at nearly $59.8 million, into Coinbase. Additionally, WLFI spent $1.7 million in Tether (USDT) to acquire 17.62 WBTC at $96,491 per token.
These transactions followed WLFI’s recent accumulation of various DeFi tokens, including Aave, Chainlink, and Ondo. However, Lookonchain reported that the project incurred a $5 million loss from these recent asset allocations.
Arkham Intelligence data revealed that WLFI’s wallet currently holds approximately $16.7 million in various assets.
Looking ahead, this recent activity marks WLFI’s first significant transaction since December, when they diversified their portfolio with a range of DeFi tokens. The project also recently garnered community support to launch a custom Aave v3 instance for its platform.
Despite these developments, WLFI has maintained a relatively low profile on social media, providing limited updates. World Liberty Financial aims to establish itself as a DeFi hub where users can engage in lending, borrowing, and investing in digital assets.
Initially seeking to raise $300 million during its token sale, WLFI adjusted its target to $30 million after encountering fundraising challenges. With backing from crypto investor Justin Sun, they successfully achieved this revised goal.
Following Trump’s election victory in November, WLFI experienced an 81% increase in token profits, now totaling $80.2 million, according to data from Dune Analytics.
In conclusion, World Liberty Financial continues to navigate the DeFi landscape with strategic asset allocations and ambitious goals for the future.