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World Liberty Financial (WLFI), a Crypto Project Partly Owned by President Donald Trump’s Family, is Back in the Spotlight
The project has poured $3 million into buying 3.539 million Mantle (MNT) tokens, at an average price of around $0.84 per token. But this is not their only action.
If we compare it to people shopping during big discounts, WLFI does seem to like to ‘stock up’ on tokens. The total funds they have spent to buy 11 crypto assets have reached around $343 million. Not a small number, of course.
Several major tokens, such as Ethereum (ETH), Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), Aave (AAVE), Ethena (ENA), Movement (MOVE), Ondo (ONDO), Sei (SEI), Avalanche (AVAX), and of course MNT, have entered their investment basket.
However, the results are still far from good. Overall, WLFI suffered a floating loss of $109 million. It’s like riding a roller coaster, but it hasn’t gone down yet. With the fluctuating and unstable market conditions, their portfolio is still in the red zone.
More Than Just Money: When Tokens Hint at Politics
On the other hand, this MNT purchase is not WLFI’s first step in large-scale token purchases. Previously, CNF reported that WLFI had purchased $100 million worth of SEI tokens to increase its holding to 1 million SEI. At that time, this step was considered a form of trust in the long-term potential of the SEI ecosystem. But as we know, trust does not always immediately result in profit.
Not only that, WLFI had stolen the public’s attention when a crypto investor named Mike Dudas bought $145,000 worth of WLFI tokens from them right before Trump’s inauguration. This token is not just any token because it gives voting rights in the company’s decision-making. This raises the question: Is this just an investment, or are there political considerations behind it?
Millions Raised, But Transparency Still in Doubt
Furthermore, WLFI has previously managed to raise more than $300 million from their token sale. Not only that, well-known investors like Justin Sun also joined in and spent at least $75 million to participate.
Even so, Trump’s presence as one of WLFI’s owners raises concerns about conflicts of interest. Can this project really be purely business, or is there a hidden political agenda? According to a number of ethics experts, so far Trump has not violated any laws in this case.
But still, the public certainly has the right to be suspicious, especially when looking at the token purchase moments that occur at crucial times.
WLFI and Chainlink: Building Trust or Chasing Trends?
In addition, WLFI has also made an interesting move in November 2024 by announcing plans to adopt oracle services from Chainlink. This step is intended to support the Aave protocol, which is already well-established in the DeFi world.
The goal is to increase security and strengthen connectivity between platforms. You could say this is WLFI’s effort to strengthen their foundation in the decentralized financial ecosystem.
But still, with a $109 million loss hanging over their heads, the public must be wondering: is their strategy long-term and patient waiting, or just getting caught up in the hype and confused about direction?