World Liberty Monetary (WLFI), a DeFi initiative linked to US President-elect Donald Trump, has addressed concerns about latest Ethereum transactions value $60 million.

On Jan. 15, the mission clarified that the actions are segment of its routine treasury management, dispelling speculations of asset gross sales.

It said:

“To be obvious, we're no longer selling tokens—we're simply reallocating resources for frequent enterprise purposes. These actions are supposed to be segment of affirming a sturdy, real, and efficient treasury. No resolve on to speculate—that is all customary affirm for managing operations at WLFI.”

These feedback method from the blockchain analysis platform Lookonchain, which revealed a series of excessive-price transfers by WLFI.

In response to the platform, the DeFi mission converted 103 Wrapped Bitcoin (WBTC), valued at $9.89 million, into 3,075 Ethereum (ETH). It then deposited 18,536 ETH, value nearly $59.8 million, into Coinbase. In a while, WLFI spent $1.7 million in Tether (USDT) to construct 17.62 WBTC at $96,491 per token.

These transactions adopted the mission’s latest accumulation of several DeFi tokens, including Aave, Chainlink, and Ondo. On the other hand, Lookonchain necessary that WLFI has incurred a $5 million loss from its latest asset allocations.

Within the period in-between, files from Arkham Intelligence reveals that WLFI’s pockets holds approximately $16.7 million in varied resources at press time.

What next for WLFI?

This exercise marks WLFI’s first valuable transaction since December when it expanded its portfolio with a differ of DeFi tokens. It moreover adopted the approval of a community-backed proposal to originate a custom Aave v3 event for its platform.

No matter this growth, the mission has maintained a low profile on social media, offering few updates.

World Liberty Monetary envisions itself as a DeFi hub the place customers can lend, borrow, and make investments in digital resources.

Whereas the mission on the foundation sought to raise $300 million at some level of its token sale, it scaled relief its map to $30 million after facing fundraising challenges. This map changed into once carried out with give a enhance to from crypto investor Justin Sun.

Following Trump’s November election victory, the mission experienced an 81% surge in token earnings, now totaling $80.2 million, per Dune Analytics files.

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Ethereum Wrapped Bitcoin Chainlink Ondo Aave Arkham Intelligence Donald Trump Justin Sun

Author

Oluwapelumi Adejumo

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Oluwapelumi values Bitcoin's potential. He imparts insights on a differ of issues delight in DeFi, hacks, mining and culture, underlining transformative vitality.

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Liam 'Akiba' Wright

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