In a bold move that’s sure to raise eyebrows, World Liberty Financial (WLFI), the crypto fund backed by the Trump family, just dropped a cool $775,000 on SEI tokens. Yes, you read that right. A whopping $775,000. This purchase snagged WLFI 4.89 million SEI tokens, and it all went down on April 12, using USDC from their main wallet. Talk about a strategic play!
After the announcement, SEI tokens skyrocketed over 27%. The price now sits around $0.178. Traders and developers are buzzing about SEI, thanks to its lightning-fast execution capabilities tailored for decentralized finance. It’s clear WLFI is trying to diversify its already mixed bag of crypto holdings, which includes everything from Bitcoin to Avalanche. DeFi offers financial services that are accessible to anyone with an internet connection, which could explain WLFI’s interest in this space.
SEI tokens surged over 27% post-announcement, now valued at $0.178, as traders buzz about its DeFi potential.
But let’s not get too excited just yet. WLFI has been on a bit of a rollercoaster ride. Despite their $346.8 million investment across 11 tokens, they’re staring down about $145.8 million in losses. Ouch! Ethereum alone has seen losses topping $114 million. So, while they’re busy accumulating altcoins, the returns haven’t exactly been pouring in. Maybe they’re banking on a long game? Who knows! WLFI’s investment in SEI reflects their interest in scalable blockchain infrastructure, which they believe could be pivotal for future growth.
And let’s not forget, WLFI’s connection to the Trump family means they’re under a microscope. The political and public scrutiny is real. There’s chatter about their stablecoin, USD1, raising eyebrows in Congress, with lawmakers concerned about the potential implications of Trump using it to replace the U.S. dollar. It’s a wild ride in the crypto space, and WLFI is right in the thick of it.
