Trump-Linked Crypto Venture Transfers $307 Million to Coinbase Prime

A recent transaction has raised eyebrows in the crypto community, as World Liberty Financial (WLFI), a crypto venture tied to the Trump family, transferred over $307 million in digital assets to Coinbase Prime. This move has sparked speculation about the potential sale of these assets, which could lead to market volatility.

The Transferred Assets

According to data from SpotOnChain, the transferred assets include:

73,783 ETH worth approximately $212 million
553 WBTC valued at $52.7 million
Other tokens such as AAVE, LINK, ENA, MOVE, ONDO, and USDC

In addition to the transfer, WLFI unstaked 19,423 stETH, converting it back to ETH, and used $5 million in USDC to purchase 1,826 ETH at an average of $2,738 per token.

Market Volatility Concerns

Large transfers to centralized exchanges often indicate a potential sale, which can lead to market volatility. However, WLFI has denied any asset sales, stating that the transfers were part of routine treasury management to manage fees, expenses, and operational liquidity.

Trump’s Tariff War Leads to Losses

The exchange transfer follows a 21% drop in WLFI’s crypto holdings, which came after US President Donald Trump’s recent tariff policies targeted Canada and Mexico. According to SpotOnChain data, WLFI’s initial $242.77 million crypto investment has since decreased by over $51.7 million, with Ethereum accounting for most of these losses.

Eric Trump’s Public Support for Ethereum

Amid the downturn, Eric Trump publicly supported Ethereum, urging followers on X (formerly Twitter) to buy the asset. He posted: “In my opinion, it’s a great time to add ETH. You can thank me later.”

WLFI Denies Asset Sales

In response to speculation, World Liberty Financial clarified that its recent fund movements were part of routine treasury management. The project stated that the transfers were intended to manage fees, expenses, and operational liquidity rather than offloading assets.

Key Takeaways

> World Liberty Financial, a Trump-linked crypto venture, has transferred over $307 million in digital assets to Coinbase Prime, sparking speculation about potential asset sales. The project has denied any asset sales, stating that the transfers were part of routine treasury management.

Conclusion

The recent transaction by World Liberty Financial has raised concerns about market volatility, but the project’s denial of asset sales has alleviated some of these concerns. As the crypto market continues to evolve, it’s essential to monitor large transactions and their potential impact on the market.

Source: Trump Linked World Liberty Financial Transfers 307 Million To Coinbase Prime | Cryptoslate.com

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