World Liberty Financial, the decentralized finance initiative associated with the family of former U.S. President Donald Trump, has refuted claims of having sold ether (ETH) earlier this week.
Reports surfaced on Wednesday indicating that a wallet identified by blockchain analytics firm Arkham as potentially tied to World Liberty Financial had sold $8 million in ether, following a staggering $125 million in unrealized losses.
A representative for World Liberty Financial commented to CoinDesk, stating: “The assertion that World Liberty Financial has divested any of its assets is entirely incorrect. WLFI has not liquidated any positions as alleged. Any speculation to the contrary is unfounded.”
In the aftermath of the reported sale at $1,465, ether’s price has since bounced back, currently trading at $1,553 as the crypto market has seen a brief respite since Wednesday.
Eric Trump, the son of Donald Trump, had remarked in February that it was an opportune time to purchase ETH when it was valued at $2,880.
Arkham has not yet provided any response to inquiries from CoinDesk for comment.