- A wallet believed to be owned by the Trump-family-backed DeFi project, World Liberty Financial, has sold 5,471 ETH at a substantial loss, according to on-chain data from Arkham.
- World Liberty Financial had accumulated 67,498 ETH with a total purchase price of approximately US$210 million: the value of its holdings has since fallen by around 55%.
- Blockchain analytics firm Bubblemaps said the Melania Trump-linked memecoin, $MELANIA, has also seen large covert sell-offs by project insiders over the past few weeks.
It appears the stable geniuses behind the Trump family-owned DeFi project, World Liberty Financial (WLFI), have begun quietly selling their ether (ETH) holdings at a significant loss.
After aggressively accumulating right around the local top, it now looks like the master strategists at WLFI might be selling at close to the bottom. WLFI started stacking ETH earlier this year, accumulating a total of 67,498 ETH for a total cost of approximately US$210 million (AU$340.4 million) and an average price per token of US$3,250 (AU$5,269), according to the X account Lookonchain.
On-chain data from Arkham shows that a wallet believed to be linked to the project sold 5,471 ETH on Wednesday for around US$8 million (AU$12.9 million) — approximately US$1,465 (AU$2,375) per token — resulting in a realised loss of around US$9.7 million (AU$15.7 million).
Overall, WLFI is currently sitting on unrealised losses on its ETH purchases of around US$110 million (AU$178 million), or about 55% of the purchase price.
This apparent panic selling from the Trumps follows a February tweet from Eric Trump in which he told his X followers: “In my opinion, it’s a great time to add $ETH.” Originally the tweet also included “you can thank me later,” but it was edited to remove that embarrassing little boast.
Since Eric Trump’s tweet, the price of ETH has fallen about 40% — at the time of writing CoinGecko data shows it’s changing hands at around US$1,645 (AU$2,666), having surged over 12% on the day in response to the 90-day tariff pause announced April 9 by President Trump.
Related: Dems Seek Evidence of SEC’s Handling of Trump-Backed WLFI Project
Memecoin Linked To Melania Trump Also Quietly Selling
It appears WLFI isn’t the only Trump-link crypto project looking to sell the dip.
The blockchain analytics firm, Bubblemaps, has also identified large covert transfers and sales of the Melania Trump-linked memecoin MELANIA, posting on X that “$30M was moved from community funds — and is now being quietly sold, with no explanation from the team.”
Bubblemaps’ analysis showed that the MELANIA tokens were moved to a wallet linked to project insiders before being split up and sent to a network of other wallets. Of the US$30 million (AU$48.6 million) worth of tokens transferred out of the project’s community funds, US$12 million (AU$19.5 million) was used to open two new US$6 million (AU$9.7 million) positions, US$3 million (AU$4.8 million) was sent to centralised exchanges and US$500,000 (AU$810,588) has been sold.
Related: Exposed: Coffeezilla Uncovers Memecoin Mastermind’s Confession of Widespread Market Manipulation
These secretive transfers and sales follow earlier transactions unearthed by Bubblemaps in which Hayden Davis — the genius behind the MELANIA launch and other disastrous launches including $LIBRA and $WOLF — quietly extracted US$2 million (AU$3.2 million) from MELANIA liquidity pools and sent a further US$1 million (AU$1.6 million) to centralised exchanges.
Credit: Source link
