crypto.news 2025-04-09 07:34:59

Trump’s World Liberty Financial sells $8M in Ethereum amid mounting losses

Trump-backed World Liberty Financial appears to be offloading Ethereum following increasing losses as ETH plunges below $1,500. According to data shared on X by Lookonchain, on Apr. 9, a wallet linked to WLFI reportedly sold 5,471 Ethereum ( ETH ) for around $8 million, at a price of $1,465 per coin. The sale represents a major loss. WLFI had previously spent around $210 million to acquire 67,498 ETH at an average price of $3,259. At current prices, the firm is sitting on an unrealized loss of roughly $125 million. Has Trump's World Liberty( @worldlibertyfi ) started selling $ETH at a loss? According to Arkham, a wallet possibly linked to #WorldLiberty sold 5,471 $ETH ($8.01M) at $1,465 30 minutes ago. #WorldLiberty previously spent ~$210M to buy 67,498 $ETH at an average price of $3,259,… pic.twitter.com/jPMqCiADvt — Lookonchain (@lookonchain) April 9, 2025 Despite the losses, the company has been actively expanding its product lineup. On Mar. 25, WLFI confirmed the launch of USD1, a stablecoin backed 1:1 by cash, short-term U.S. Treasuries, and equivalents. The token is currently live on Ethereum and BNB Chain, with more networks to come. You might also like: Ethereum falls below $1.5K for the first time since March 2023 WLFI claims USD1 is built for institutions seeking transparency and compliance, with reserves audited by third parties and custody handled by BitGo. The stablecoin is promoted as a safe substitute for algorithmic or undercollateralized tokens. WLFI was established in 2024 and positions itself as a decentralized finance platform that provides financial tools based on blockchain technology. Through its token sale, the project raised $550 million, including $75 million from Tron founder Justin Sun, who later joined the platform as an advisor. However, the firm has faced governance concerns and criticism over political influence due to its Trump connections. As reported by crypto.news on Apr. 1, The Trump family gained majority control of the platform in January by acquiring a 60% share through a new holding company, WLF Holdco LLC. As a result, they will control 60% of the company’s operating profits after the platform is fully operational, and they are also entitled to 75% of the token sales revenue under the new structure. Read more: Argentine lawmakers approve official inquiry into LIBRA memecoin scandal