Trump-linked World Liberty Financial transfers $307 million to Coinbase Prime
The post Trump-linked World Liberty Financial transfers $307 million to Coinbase Prime appeared on BitcoinEthereumNews.com.
World Liberty Financial (WLFI), a crypto venture tied to the Trump family, has transferred over $307 million in digital assets to Coinbase Prime, according to data from SpotOnChain. The transferred assets include 73,783 ETH worth approximately $212 million and 553 WBTC valued at $52.7 million. Other tokens involved in the move include AAVE, LINK, ENA, MOVE, ONDO, and USDC. Large transfers to centralized exchanges often indicate a potential sale, which can lead to market volatility. In addition to the transfer, WLFI unstaked 19,423 stETH, converting it back to ETH. The project also used $5 million in USDC to purchase 1,826 ETH at an average of $2,738 per token. SpotOnChain estimates that WLFI retains $96.62 million in digital assets spread across nine wallets despite the movement. Trump’s tariff war leads to losses The exchange transfer follows a 21% drop in WLFI’s crypto holdings. This decline came after US President Donald Trump’s recent tariff policies targeted Canada and Mexico. SpotOnChain data shows that WLFI’s initial $242.77 million crypto investment, made between Jan. 19 and 31, has since decreased by over $51.7 million. Ethereum accounted for most of these losses at nearly $37 million, followed by $8 million in wrapped Bitcoin and over $2 million in Ethena. Amid the downturn, Eric Trump publicly supported Ethereum, urging followers on X (formerly Twitter) to buy the asset. He posted: “In my opinion, it’s a great time to add ETH. You can thank me later.” WLFI denies asset sales In response to speculation, World Liberty Financial clarified that its recent fund movements were part of routine treasury management. The project stated that the transfers were intended to manage fees, expenses, and operational liquidity rather than offloading assets. It stated on X: “To be clear, we are not selling tokens—we are simply reallocating assets for ordinary business…
Filed under: News - @ February 4, 2025 12:22 pm