Trump-backed World Liberty may have sold 5,471 ETH amid $125M loss
Key Takeaways
- A Trump-backed entity, World Liberty, reportedly sold 5,471 ETH at a loss.
- World Liberty's ETH investment initially purchased at $3,259 per token, is now facing a $125 million loss.
A wallet possibly linked to World Liberty Financial, the DeFi project endorsed by the Trump family, may have offloaded 5,471 ETH — worth around $8 million at the time — at a price of $1,465 per coin today, according to a new report from Lookonchain.
The sale marks a steep loss compared to World Liberty’s earlier investment. The project had previously acquired 67,498 ETH for approximately $210 million, averaging $3,259 per token.
World Liberty is now underwater by roughly $125 million, based on ETH’s current price of about $1,400.
The second-largest crypto asset has fallen more than 40% since Eric Trump, the project’s web3 ambassador, bull-posted Ethereum , according to TradingView .
Beyond Ethereum’s woes, the crypto market is experiencing a sharp downturn. Bitcoin has fallen over 20% since early February, while XRP and Cardano each have lost around 30%.
Solana has been hit particularly hard, shedding almost 50%, and Dogecoin is down approximately 47%.
TRON and Binance Coin have shown the most resilience among the top 10.
World Liberty has been involved in several controversies regarding token sales and management. However, the project has strongly denied allegations of making unauthorized token sales or swaps.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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