Two protocols including Movement and Tron whose tokens are held in President Donald Trump’s crypto project World Liberty Financial’s (WLFI) treasury are refuting claims of a token swap agreement requiring a $10 million to $15 million buy-in for inclusion.
World Liberty Financial and The Tron, Movement Token Swap Deal
A report had previously claimed that WLFI representatives had approached protocol teams with a proposal to invest $10 million in WLFI tokens plus a 10% fee, and in return, WLFI would acquire an equal amount of their protocol’s tokens. However, a representative from TRON has denied any such deal, claiming, “There is no token swap agreement.”
Note that data from Arkham shows that TRON’s TRX is WLFI’s second-largest holding, with 40.7 million TRX valued at $8.98 million, which were bought by WLFI in multiple purchases throughout January.
Movement Labs, whose MOVE token surged in late January after WLFI bought $2 million worth of it, also denied any swap agreement. Co-founder Rushi Manche clarified that they had not transferred tokens to WLFI or any other entity, and explained “There weren’t any deals, no backdoor arrangements. It was purely market buying.”
World Liberty Financial’s Ethereum Purchase Sparks Token Sales Rumors
World Liberty Fi has recently been moving all assets from its public portfolio, with multiple outflows of Ethereum within a couple of hours.
After the recent crypto market slump, WLFI incurred a paper loss of between $25 million and $50 million. Following this, all major assets were transferred out of the wallet, ending up with Coinbase Prime.
This move sparked rumors among crypto circles that the project is planning a token sale, however, WLFI clarified that the funds are a part of reallocation efforts for ordinary business purposes.
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. To be clear, we are not selling tokens—we are simply reallocating assets for ordinary business purposes.…
— WLFI (@worldlibertyfi) February 3, 2025
Also Read: Donald Trump’s World Liberty Financial Snaps Up $4.7M MOVE Tokens
Credit: Source link
