World Liberty Financial, a crypto project backed by the Trump family, recently purchased 4.89 million SEI tokens, worth $775,000, as part of a broader altcoin acquisition strategy, according to blockchain data.
On April 12, one of WLFI’s trading wallets acquired the SEI tokens using USDC transferred from its main wallet. This wallet had previously been used to acquire other altcoins, adding to WLFI’s already diverse holdings, which include Bitcoin, Ether, and a range of altcoins like Tron, Ondo Finance, and Avalanche.
Blockchain researcher Lookonchain reports that WLFI has invested $346.8 million into 11 different tokens, but as of April 12, none of these investments have yielded a profit. In fact, WLFI’s Ethereum holdings alone are down by over $114 million, contributing to an overall portfolio loss of $145.8 million.
In early February, Eric Trump encouraged his followers to invest in Ether, claiming it was a good time to buy. However, data from CoinGecko shows ETH’s price has dropped 55% since his tweet, now trading at $1,611, down from $2,879 on February 3.
In other news, WLFI’s stablecoin, USD1, has appeared with a new logo on major platforms like Coinbase, Binance, and CoinMarketCap, although WLFI has not officially commented on the logo’s unveiling.
Trump’s connection to USD1 has drawn criticism from politicians on both sides of the aisle. During an April 2 hearing on stablecoin regulation, Representative Maxine Waters speculated that Trump may intend to use USD1 to replace the US dollar, while Republican chair French Hill expressed concerns about the potential implications of a president owning a stablecoin business.
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