Donald Trump-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has transferred nearly $60 million worth of Ethereum (ETH).
Crypto tracker Lookonchain notes that World Liberty deposited 18,536 ETH worth $59.8 million into Coinbase Prime on Tuesday.
The DeFi project noted on Tuesday that it was executing “routine movements” of its crypto stake as part of “regular cash management, payment of fees and expenses, and to meet working capital needs.”
“To be clear, we are not selling tokens: we are simply repurposing assets for ordinary business purposes. These actions aim to contribute to maintaining a solid, secure and efficient cash flow. No need to speculate: this is standard practice for operations management at WLFI. »
The DeFi project currently holds $17.2 million in digital assets, according to crypto data platform Arkham.
World Liberty notes in fine print on its website 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 lists Donald Trump as his “crypto chief.” Lawyer.” The World Liberty website also indicates that Trump could receive tokens and a large portion of the protocol’s net revenue.
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Check Price Action
Follow us on XFacebook and Telegram
Surf the daily Hodl mix
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: halfway
