#Trump Family Token Plunges#
Hot Topic Overview
Overview
The Trump family-backed crypto project World Liberty Financial (WLFI) has spent $220 million to purchase 7 tokens, currently incurring a loss of $9.4 million. The project purchased 6 tokens, including ETH, WBTC, AAVE, LINK, TRX, and ENA, for $112.8 million on Trump's inauguration day, with $47 million spent on ETH and WBTC respectively, and $4.7 million on other tokens. Although Trump did not mention cryptocurrencies in his inaugural address, the investment actions of his family project in the crypto market have attracted market attention and led to a plunge in Trump family tokens.
Ace Hot Topic Analysis
Analysis
The Trump family-backed DeFi project, World Liberty Financial (WLFI), has been selling its token well and has been using the money to "shop". WLFI has spent a total of $112.8 million in the past 11 hours purchasing 6 tokens: ETH, WBTC, AAVE, LINK, TRX, and ENA. Among them, ETH and WBTC were each purchased for $47 million; AAVE, LINK, TRX, and ENA were each purchased for $4.7 million (all numbers are 47 to celebrate Trump's inauguration as the 47th President). Currently, WLFI has spent a total of $220 million to purchase 7 tokens, but they are all underwater. The total unrealized loss is $9.4 million (Figure 1). It is noteworthy that WLFI did not continue to buy ONDO this time, but instead added TRX to its purchases. Arkham's latest monitoring data shows that ETH is now WLFI's largest holding, with a current holding of 56,774 ETH, worth $185.63 million, accounting for nearly 57% of WLFI's total on-chain holdings of $326,150,368.04. Besides ETH, other major crypto assets currently held by WLFI include: 53,892,000 USDC, valued at $53.89 million; 456.777 WBTC, valued at $46.63 million; 4,747 STETH, valued at $15.53 million; 19,399 AAVE, valued at $6.5 million; 256,315 LINK, valued at $6.37 million.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The Trump family has been hyping cryptocurrencies and raising funds through token issuance, but their lack of transparency could ultimately lead to a market crash.
After taking office, Trump did not fulfill his promises to the crypto industry, instead he adopted policies that were detrimental to the development of cryptocurrencies, leading to a decline in market confidence.
The Trump family's crypto project WLFI has invested heavily in various tokens, but is currently losing money, indicating that its investment strategy is risky.
The Trump family's crypto project WLFI holds a significant amount of ETH, indicating that ETH still holds appeal in the market, but its price volatility could also pose risks.