A financial entity supported by Trump, World Liberty Financial, seems to be selling off Ethereum as losses mount with ETH dipping below the $1,500 mark.
As per information shared on X by Lookonchain, on April 9, a wallet associated with WLFI reportedly divested 5,471 Ethereum (ETH) for approximately $8 million, at a price point of $1,465 per coin.
This transaction represents significant losses. WLFI had previously invested around $210 million to purchase 67,498 ETH at an average price of $3,259. With the current market situation, the firm faces an unrealized loss of about $125 million.
In spite of these financial setbacks, the company has been diligently broadening its product offerings. On March 25, WLFI announced the debut of USD1, a stablecoin fully backed 1:1 by cash, short-term U.S. Treasuries, and similar assets. This token is now live on the Ethereum and BNB Chain networks, with additional networks expected to be supported in the future.
WLFI asserts that USD1 is designed for institutions that prioritize transparency and regulatory compliance, featuring reserves verified by third-party audits and custody managed by BitGo. The stablecoin is marketed as a secure alternative to algorithmic or undercollateralized tokens.
Reportedly, the Trump family took majority ownership of the platform in January by acquiring a 60% stake via a new holding company, WLF Holdco LLC. Consequently, they will control 60% of the company’s operational profits once the platform is fully functional and are entitled to 75% of the revenue from token sales under the updated structure.