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 accordance with onchain knowledge.
Information from blockchain analytics agency Arkham Intelligence shows the acquisition was made on April 12 by one in every of WLFI’s buying and selling wallets utilizing USDC transferred from the undertaking’s fundamental 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, akin to Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX) and now Sei (SEI).
According to blockchain researcher Lookonchain, WLFI has spent a complete of $346.8 million accumulating 11 totally 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 the moment down over $114 million.
Total, 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 publish, Donald Trump’s son, Eric Trump, urged his followers to purchase Ether, writing: “In my view, it’s a good time so as to add $ETH.” Initially, the tweet additionally included “you’ll be able to thank me later,” nevertheless it was edited to take away these 5 phrases.
On the time of writing, data from CoinGecko confirmed ETH’s value had fallen 55% since Eric Trump’s tweet, at the moment 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 each side of US politics. At an April 2 US Home Monetary Providers Committee hearing on stablecoin legislation, Democratic Consultant Maxine Waters urged President Trump could also be finally planning to make use of USD1 to interchange the US greenback.
“Trump seemingly needs the whole authorities to make use of stablecoins, from funds made by the Division of Housing and City Growth to Social Safety funds to paying taxes. And which coin do you assume Trump would change the greenback with? His personal, in fact.”
The committee’s Republican chair, French Hill, aired related issues.
“If there is no such thing as a effort to dam the president of the USA of America from proudly owning his stablecoin enterprise […] I’ll by no means be capable to agree on supporting this invoice, and I’d ask different members to not be enablers.”
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