Amidst the swirling tempest of the financial arena, the Trump-endorsed World Liberty Financial finds itself in a most precarious position, hastily relinquishing Ethereum as its worth tumbles below the threshold of $1,500—a moment surely to elicit a chuckle from the gods of irony.
On the date of April 9, as fortune would have it, a digital wallet, presumably entwined with the fateful fingers of WLFI, dispensed 5,471 Ethereum (ETH) for a sum near $8 million, striking at the price of $1,465 per coin. What a peculiar twist of fate!
This hasty transaction represents a notable blunder—as WLFI previously sowed approximately $210 million to procure 67,498 ETH at an average price of $3,259. At this juncture, the firm finds itself perched atop an unrealized loss hovering precariously around $125 million. You might say they have truly mastered the art of letting go!
Has Trump’s World Liberty (@worldlibertyfi) indeed entered the realm of losses with their Ethereum sales?
According to Arkham, a wallet possibly linked to #WorldLiberty sold 5,471 $ETH ($8.01M) at $1,465 just a half hour ago. #WorldLiberty had previously invested roughly $210M to purchase 67,498 $ETH at an average price of $3,259…
— Lookonchain (@lookonchain) April 9, 2025
Nevertheless, amidst the clouds of despondency, the company endeavors to broaden its horizons. On the 25th of March, WLFI triumphantly heralded the arrival of USD1—a stablecoin astonishingly backed 1:1 by cash, short-term U.S. Treasuries, and various equivalents. A bold move indeed, as this token now exists within the domains of Ethereum and BNB Chain, with ambitious plans for broader horizons.
Claiming to bestow transparency and compliance upon the institutions, WLFI assures that its reserves are audited by esteemed third parties, with custody entrusted to the watchful eyes of BitGo. USD1 is marketed as a bastion of safety, overshadowing its more volatile algorithmic cousins. One cannot help but chuckle at the audacity of it all!
In the grand tapestry of finance, WLFI rose from the ashes in 2024, presenting itself as a decentralized finance vessel, supplying blockchain-based financial tools. Through its token sale, an admirable sum of $550 million was raised—a portion generously contributed by Tron’s founder, Justin Sun, who later assumed the mantle of advisor. Yet lo, the firm has not been without its tribulations, facing governance concerns and jests of political entanglement due to its connections with Mr. Trump.
As reported by crypto.news on April 1, a twist of fate saw the Trump family seize majority control of the venture in January, acquiring a 60% stake through a newly minted holding company, WLF Holdco LLC. Henceforth, they shall command 60% of the operating profits once the platform finds its footing, while simultaneously pocketing 75% of the token sales revenue per the new arrangement. Truly, a scene fit for a Russian novel—rich with folly and the unexpected turns of fate!
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2025-04-09 10:59