WLFI crypto project: the Trump family invests $775k in SEI tokens

WLFI crypto project: the Trump family invests $775k in SEI tokens

Cryptocurrency project World Liberty Financial (WLFI), associated with the Trump family, recently expanded its portfolio with 4.89 million SEI tokens worth approximately $775k. The purchase, which took place on April 12, was funded through USDC transferred from the project's main wallet.

WLFI, which has already invested more than $346 million in 11 different tokens, including Bitcoin (BTC) and Ether (ETH), continues to struggle with losses. As of April 12, the portfolio had a total loss of $145.8 million, with its Ethereum holdings showing the largest loss at more than $114 million.

SEI's acquisition comes at a time when there has been speculation about the Trump family's involvement in the cryptocurrency market. Eric Trump recently expressed support for Ethereum on social media, but the price of the cryptocurrency has dropped significantly since then.

Interestingly, the unofficial logo of WLFI's upcoming USD1 stablecoin has appeared on platforms such as Coinbase and Binance. This stablecoin, backed by US Treasury bonds and managed by BitGo, aims to create a regulated digital asset linked to the dollar.

Lawmakers, including Democratic Representative Maxine Waters, have expressed concern about the Trump family's possible efforts to replace the US dollar with this stablecoin in federal transactions. The chairman of the Financial Services Committee warned that such a move could be problematic.

*This is not an investment recommendation.

Coingarage team