World Liberty Financial, a DeFi initiative supported by the Trump family, has reportedly begun liquidating its ether (ETH) holdings at a price of $1,465 per token, despite acquiring the cryptocurrency for $3,259 earlier this year.
Blockchain data indicates that a wallet closely associated with World Liberty Financial disposed of 5,471 ETH for approximately $8 million on Wednesday, incurring a loss of $125 million in the process.
This transaction occurred shortly after Eric Trump, son of the former U.S. president, mentioned it was a favorable moment to invest in ETH, which was then valued at $2,880.
The primary wallet of World Liberty Financial retains $98 million in various cryptocurrencies, including $11.7 million in ether.
On Wednesday, Donald Trump expressed on Truth Social that it was a “great time to buy” while global markets fell amid rising trade war concerns.
Since Trump’s inauguration on January 20, the Nasdaq has declined by 20%, the S&P 500 has dropped by 17%, and bitcoin (BTC) has seen a 24% decrease.
The TRUMP and MELANIA memecoins have experienced even steeper losses, plummeting by 83% and 95%, respectively, since January 20.
World Liberty Financial has not yet responded to requests for further comments.