Donald Trump-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has moved nearly $60 million worth of Ethereum (ETH).
The crypto tracker Lookonchain notes World Liberty deposited 18,536 ETH worth $59.8 million into Coinbase Prime on Tuesday.
The DeFi project noted on Tuesday that it was making “routine movements” of its crypto holdings as part of “regular treasury management, and the payment of fees and expenses and to meet working capital requirements.”
“To be clear, we do not sell tokens – we simply redistribute assets for ordinary business purposes. These actions are intended as part of maintaining a strong, secure and efficient treasury. There is no need to speculate: this is all standard practice for managing operations at WLFI.”
According to the crypto data platform, the DeFi project currently holds $17.2 million in digital assets Arkham.
World Freedom notes the fine print on its website states that the second-term president-elect is not an officer, director, founder, or employee of the company or any of its subsidiaries, but the company does list Donald Trump as its “Chief Crypto Advocate.” World Liberty’s website also states that Trump can receive tokens and a large portion of net protocol revenue.
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Generated image: Midjourney