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The Lavish Pursuit of Altcoins: Trump’s World Liberty Fumbles in Crypto Jungle

BBG News

In the vibrant chaos of the digital marketplace, the gilded insignia of the Trump kin, World Liberty Financial (WLFI), has fervently absorbed 4.89 million shimmering SEI tokens, a glittering treasure valued at $775,000, as per the guardians of the blockchain, those vigilant eyes known as onchain data. 😏

On the fateful day of April 12, whispers of a transaction ascended like morning fog, revealed by the cryptic analysts at Arkham Intelligence. A maneuver executed from the shadows of WLFI’s trading wallet, with USDC—the elixir of crypto—shuttled from the project’s principal hoard. This very wallet had previously been a gracious host to an array of other elusive altcoins. Where will they all end up? Somewhere in the ether, perhaps? 😊

With a portfolio as diverse as a carnival, WLFI parades Bitcoin (BTC), Ether (ETH), and a multitude of altcoins—Tron (TRX), Ondo Finance (ONDO), Avalanche (AVAX), and now the hapless Sei (SEI)—all under one grand digital roof.

The mythical figure of blockchain research, Lookonchain, narrates a tale of WLFI’s expenditures—a staggering $346.8 million etching a path toward 11 tokens, with profit residing stubbornly in the other realm, untouched, unclaimed. As of the two-horned date of April 12, their Ethereum ventures are despairingly lingering in the sea of losses, drowning over $114 million beneath the waves. 🥴

Altogether, the treasure chest of WLFI finds itself $145.8 million adrift amid an ocean of unwelcome misfortune. One has to wonder, does fortune favor the bold or just taunt them? 🤔

Just a mere two moons ago, on the radiant stage of Twitter, Eric Trump beckoned his flock with the allure of Ether, declaring, “In my opinion, it’s a great time to add $ETH.” Words once robust, now deflated! Those confounding five words “you can thank me later” mysteriously vanished into the void. Classic! 😂

As the clock ticks, CoinGecko gives birth to numbers proclaiming ETH’s descent—a 55% plunge since Eric’s heartfelt endorsement, now languishing at $1,611, a far cry from its regal perch of $2,879 on February 3. Oh, how the mighty do fall!

WLFI’s Legendary USD1 Logo Emerges from the Shadows

In the swirling mists of the crypto cosmos, the emblem of WLFI’s stablecoin, USD1, has made its theatrical debut on Coinbase, Binance, and the illustrious CoinMarketCap, leaving the realm agog at its unofficial unveiling. 🙌

No word from WLFI, official or otherwise, drifts upon the winds to explain this momentous event. Were they just waiting for the right dramatic sunrise? 🌅

Alas, the spectral hand of Trump hovering over USD1 rouses skepticism from lawmakers, cutting through party lines like a butter knife on day-old cake. During an April 2 House Financial Services Committee spectacle, the astute Democratic Representative Maxine Waters suggested that Trump’s masterplan might just be a covert invasion of the dollar’s realm with USD1. Who needs a little thing called the Federal Reserve, right? 🙄

“It seems he might desire the entire machinery of our government to dance to the tune of stablecoins – from housing payments to tax dues. A curious coin indeed, wouldn’t you say?”

The committee’s stern Republican chair, French Hill, echoed similar concerns, as if caught in a stormy sea: “If there is no endeavor to prevent our president from commandeering his own stablecoin enterprise, let it be known, I shall remain in staunch opposition!”

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2025-04-14 06:07

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