World Liberty Financial, a crypto project endorsed by President-elect Donald Trump, has moved $61.4 million worth of Ethereum in the past 24 hours. Blockchain data from Arkham Intelligence confirmed the funds were transferred to multiple wallets, including Coinbase Prime.
In a statement on X, WLFI said, “We’re making routine movements of our crypto holdings as part of regular treasury management, and payment of fees and expenses and to address working capital requirements.”
The project pointed out that no tokens were sold during these moves, calling them “normal practice for managing operations.”
Arkham Intelligence data showed that WLFI’s wallet did more transactions. This included swapping 103 Wrapped Bitcoin (WBTC), worth about $10 million, for 3,075 ETH. Another $59.8 million of Ethereum was sent to Coinbase Prime and other wallets.
WLFI also used $1.7 million in Tether (USDT) to buy 17.62 WBTC at an average price of $96,49 . At its peak in mid-December, WLFI had $83 million in its wallet.
But at the time of this report, the wallet balance had dropped to $17 million. WLFI said the transfers were due to normal treasury management and operating needs.
Even with such changes, the project still faces $4.8 million in unrealized losses due to volatility in its portfolio. These include Ethereum, WBTC, Aave (AAVE), and Chainlink (LINK).
The fact that the project has not sold its assets means that it is adopting a long-term investment approach during changing market situations.
Aside from its treasury activities, WLFI recently teamed up with Ethena Labs to add the sUSDe stablecoin to its Aave system. This stablecoin is supported by borrowed Bitcoin and held by Ethereum, showing WLFI’s continuous efforts to improve its ecosystem.
Also: Read: Donald Trump’s WLFI Increases ETH Holdings During Market Crash
